) -- Adam Feuerstein's take on the biotech week that was Oct. 18, 2010:
The weekly shocker: U.S. regulators reject
Not everyone was surprised by the Bydureon decision.
Amylin's Really Bad Day:
The week's best-performing stocks in the sector:
part ways over the delayed AZ-004.
exiled to the pink sheets.
earns 90 cents a share (adjusted) in the third quarter on total revenue of $1.94 billion, topping Street consensus.
forecasts 2011 earnings (adjusted) of $4.30-$4.60 a share, well above Street consensus of $3.85, and says
is significantly undervaluing the company with its $69-a-share takeover offer. Based on the valuation multiple Sanofi is using today, Genzyme is worth $89 a share, Genzyme said.
issues press release about European regulatory sign-off on a plan to
, then the company sells preferred shares convertible into 56.8 million common shares and warrants to raise $21 million.
releases results from a highway driving study of its Intermezzo sleeping pill, plans to resubmit the drug to the FDA in the first quarter 2011.
The week's worst-performing stocks:
Molecular Insight Pharmaceuticals
sells $400 million in convertible debt.
, the sleeping pill recently launched by
announces positive, interim results from a pivotal study of Soliris in patients with atypical Hemolytic Uremic Syndrome. The company also reports third-quarter earnings of 50 cents a share on revenue of $141.6 million, topping Street consensus.
--Written by Adam Feuerstein in Boston.
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