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Article: MedImmune Strikes Deal With Elusys; Earnings Drop Shares.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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Washington Editor
Weak earnings drove down shares in MedImmune Inc. by almost 12 percent Thursday, the same day the company unveiled an infectious disease in-licensing deal with Elusys Therapeutics Inc.
Gaithersburg, Md.-based MedImmune reported $47 million in earnings for the quarter ended March 31, including earnings per share of 18 cents. That missed the consensus analyst target of 27 cents.
Disappointing sales were behind the earnings, especially for the respiratory syncytial virus drug, Synagis (palivizumab). Its worldwide sales totaled $463 million for the three-month period ended March 31, down from $472 million a year ago. That dip was ...