Health and Healthcare

Biotech Business Daily (AMLN, CERS, LLY, DNA, GTOP, IMCL)

Amylin Pharmaceuticals (NASDAQ: AMLN) reported first quarter losses of $68.8 million, or $0.51 EPS, wider than the $49.4 million in the first quarter of 2007. Losses are credited to a drop in sales in diabetes treatment, Byetta, a drug they co-market with Eli Lilly (NYSE: LLY), and increased expenses. Analysts estimated losses of $0.47 EPS. Shares are down over 8% to $28.83 on a 52-week range of $23.75 to $53.25.

Cerus Corporation (NASDAQ: CERS) up on news that the company can expand label claims on platelets and plasma treated with the INTERCEPT Blood System. The System prevents transfusion-associated disease, TA-GVHD. The label expansion allows use of the System over gamma irradiation in European blood banks for TA-GVHD prevention, decreasing costs to blood banks and increasing safety. Shares of Cerus are up almost 5% to $6.75. The 52-week range is $4.18 to $10.29.

Eli Lilly (NYSE: LLY) doubled profits, tagging a first quarter profit of $1.1 billion on a 14% sales increase. However, although doubling, they failed to meet Street estimates. Sales of depression drug Cymbalta rose 37% while sales of Zyprexa were flat and Byetta rose less than expected. The company raised its full-year guidance. Shares are down $2.26 to $49.81 on a 52-week range of $46.60 to $61.00.

Genentech (NYSE: DNA) released updated data on Avastin for the treatment of lung cancer. Results showed increased progression-free survival but not overall lung cancer survival rates. The already approved treatment in conjunction with chemotherapy is fighting for market share in the highly competitive market for this treatment. Shares are down $0.72 to $72 on a 52-week range of $65.35 to $82.90.

Genitope Corp (NASDAQ: GTOP) plummeting as GE Capital Corp. demanded payment on $3.8 million in loans last Friday. The company’s list of troubles is endless—failing Phase III testing, laying off 165 of 200 employees, salary cuts…and the latest failure to repay debts. Shares are down 16% today to $0.15, a new low. The 52-week range is $0.16 to $4.93.

ImClone (NASDAQ: IMCL) up on news that lung cancer competitor Genentech released disappointing late stage data on Avastin. ImClone’s similar drug, Erbitux, is currently in clinical trials. Shares are up $1.68 to $47.83, near 52 week highs. The 52-week range is $30.34 to $47.94.

Rachel Lopez
April 21, 2008

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.