Biotech Stock Roundup: Earnings In Focus, AbbVie Takes Steps To Block Humira Copycat
Zacks Investment Research | Aug 11, 2016 05:30AM ET
Several small and mid-sized as well as big biotech companies like Regeneron (NASDAQ:REGN) and BioMarin (NASDAQ:BMRN) reported second quarter results last week. Meanwhile, among other major updates, AbbVie (NYSE:ABBV) filed a patent infringement lawsuit against Amgen (NASDAQ:AMGN) . Amgen is seeking FDA approval for its biosimilar version of Humira.
Recap of the Week’s Most Important Stories
1. First a look at earnings results of companies like BioMarin and Regeneron. BioMarin once again reported better-than-expected results and raised its revenue guidance with both Kuvan and Vimizim performing well (Read more:
MEDICAL-BIOMED/GENETICS Industry Price Index
The NASDAQ Biotechnology Index was down 3% over the last five trading days. While all the major biotechs declined during this period, Regeneron lost 5.9% over the last five trading days. Over the last six months, Biogen was up 22.5% while Gilead lost 10.1%.
What's Next in the Biotech World?
With second quarter earnings season coming to an end, watch out for the usual pipeline and regulatory updates.
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