The European Commission (EC) approved Gilead Sciences’ (GILD) drug Zydelig for two blood cancers on Friday, sending Gilead stock up as much as 1.9%, though shares were flat in midday trading in the stock market today. The EC approved the drug for chronic lymphocytic leukemia and follicular lymphoma. For the former, it is to be used in combination with Rituxan (sold jointly by Roche and Biogen Idec (BIIB), and for the latter by itself. The move
Big-cap biotech leaders Biogen Idec and Gilead Sciences easily beat second-quarter earnings estimates and received product approvals Wednesday, but their stocks reacted very differently. Biogen (BIIB) earnings rose 52% vs. a year earlier to $3.49 a share, topping analysts’ consensus by 66 cents. Sales grew 40% to $2.4 billion vs. the Street’s $2.16 billion. The company increased its full-year revenue range for 38%-41% growth from
Big-cap biotech Biogen Idec (BIIB) soundly beat analysts’ Q2 expectations and substantially raised its guidance early Wednesday, sending shares up more than 11% in midday trading in the stock market today to near 338, a four-month high. Biogen’s Q2 earnings rose 52% over the year-earlier quarter to $3.49 a share, topping analysts’ consensus by 66 cents. Sales increased 40% to $2.4 billion vs. the Street’s $2.16 billion. The company increased its