MedImmune reports earnings

MEDI reported fourth quarter diluted adjusted EPS of $0.08, beating the Street estimate by $0.03 but off 62% from $0.21 in the prior year's quarter. The decline was driven in part by increases in SG&A related to MEDI regaining U.S. rights to Synagis from Abbott (ABT). Figures exclude charges associated with the termination of the company's FluMist deal with Wyeth (WYE) in 2004 and its 2005 acquisition of Cellective (Gaithersburg, Md.).

Fourth quarter revenues were up 6% to $492 million from $466 million in the prior year. Sales of Synagis were $439 million, up 9% from the prior year's quarter. In the U.S., sales of Synagis were up 5% to $379 million in the fourth quarter, while international sales were $60 million, up 43% from 2004. Synagis is partnered with ABT outside the U.S. ...