Spectrum falls on lower Fusilev guidance

Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) fell $4.64 (37%) to $7.79 on Wednesday after lowering its 2013 guidance for cancer drug Fusilev levoleucovorin. Spectrum said it now expects Fusilev sales of $10-$15 million in 1Q13 and $80-$90 million in 2013, with total 2013 revenues of $160-$180 million. The Street was expecting total revenue of $297.3 million. Spectrum said the lower expected Fusilev sales are a result of a "change in ordering patterns," including an increase in hospitals adopting generic leucovorin. ...