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Health stocks sagged with the broader market Tuesday despite better-than-expected earnings from biotech and pharmaceutical companies.
Biogen Idec (BIIB Quote) became the latest big biotech, following Genentech(DNA Quote) and Gilead(GILD Quote), to post solid third-quarter product sales.
On an adjusted basis, Biogen earned 98 cents a share, up from 58 cents in the year-ago quarter, on revenue of $1.09 billion. Analysts, on average, were expecting 89 cents a share on $1 billion in revenue, according to Thomson Reuters. ...
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