The Medicines Co (MDCO) announced that the U.S. District Court for the Northern District of Illinois has ruled in its favor in a patent infringement lawsuit against Mylan, Inc (MYL). Mylan was looking to get its generic version of The Medicines Co.’s Angiomax (European trade name: Angiox) approved in the U.S. The Medicines Co. stated that the Court declared its patent claims 1-3, 7-10 and … Continue reading Biotech Stock in News: The Medicines Co.’s Angiomax Gets Favorable Court Ruling

Despite posting better-than-expected earnings, Biogen Idec’s (BIIB) shares fell 5.4% immediately after the release of third quarter results. Although shares recovered slightly in the subsequent trading session, the overall decline is approximately 3.3% since the announcement of third quarter results. The decline in share price reflects concerns regarding the growth prospects of Biogen’s oral multiple sclerosis (MS) treatment, Tecfidera. Tecfidera, approved in the U.S. in … Continue reading Biotech Stock News: Biogen Falls on Concerns Regarding Tecfidera Sales

Biogen Idec (BIIB) reported third quarter 2014 earnings per share of $3.79 (including the impact of stock-based compensation expense), way above the Consensus Estimate of $3.22 and the year-ago earnings of $2.34 per share. Third quarter 2014 revenues increased 37% to $2.5 billion, topping the Consensus Estimate of $2.4 billion. Including one-time items, third quarter 2014 earnings increased 77% to $3.62 per share. Third quarter … Continue reading Top Biotech Stock News: Biogen’s Q3 Earnings Top Estimates

Amgen (AMGN) reported third quarter 2014 earnings of $2.30 per share, well above the Consensus Estimate of $2.06 and the year-ago earnings of $1.93. Earnings were driven by higher revenues and higher profitability on Enbrel. Total revenues increased 6% to $5,031 million in the third quarter of 2014, beating the Consensus Estimate of $4,918 million. Including one-time items, third quarter earnings declined 10% to $1.61 … Continue reading Biotech Stock News: Amgen Looks Upbeat, Beats on Q3 Earnings & Revenues

Alexion Pharmaceuticals’ (ALXN) third-quarter 2014 earnings (including stock-based compensation expense) of $1.14 per share beat the Zacks Consensus Estimate by 9 cents. The earnings beat was attributable to higher-than-expected revenues. Moreover, earnings were above the year-ago figure by 56.2%. Including one-time items, Alexion’s earnings climbed 87% year over year to 88 cents per share in the reported quarter. Alexion’s revenues climbed 39% year over year … Continue reading Biotech Stock in News: Alexion Beats on Earnings & Revenues in Q3

Celgene Corporation (CELG) reported third-quarter 2014 earnings of 88 cents per share (including stock-based compensation expenses), which surpassed the Zacks Consensus Estimate by 6 cents. The company’s earnings were $1.39 per share in the year-ago quarter. We note that figures have been adjusted to reflect the two-for-one stock split effected earlier in the year. Total revenues climbed 18% year over year to $1.98 billion in … Continue reading Biotech Stock News: Celgene Beats Q3 Earnings Estimates