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The Zacks Analyst Blog Highlights: Biogen, Gilead, Puma Biotechnology, AbbVie and Celgene
Date:7/31/2014

a>) and Gilead (Nasdaq: GILD-Free Report) – both reported impressive numbers that sailed past expectations.

Meanwhile, a company that stood out last week among the outperformers is Puma Biotechnology (NYSE: PBYI-Free Report) thanks to positive top-line data on its late-stage experimental cancer treatment.

Recap of the Week's Most Important Stories

1. Gilead's second quarter results were way above expectations thanks to the continued impressive performance of hepatitis C virus (HCV) treatment, Sovaldi. Sovaldi contributed $3.48 billion to second quarter revenues, accounting for more than half of total revenues in the reported quarter. For the first time, Gilead provided revenue guidance including the impact of Sovaldi.

Meanwhile, in addition to reporting impressive second quarter results, Gilead could very well have another blockbuster in its hands in the form of Zydelig which gained FDA approval for three types of cancer (Read more: Gilead Crushes Q2 Earnings Estimates as Sovaldi Sales Soar).

2. Another biotech company that came out with results that shot past expectations by a wide margin is Biogen. Biogen's results too were driven by the impressive performance of one of its more recent offerings – oral multiple sclerosis (MS) treatment Tecfidera.

According to Biogen, Tecfidera, which is already the leading oral MS therapy in the U.S., is on track to be the leading MS therapy in the U.S. Biogen upped its earnings and revenue guidance significantly – this is the
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SOURCE Zacks Investment Research, Inc.
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