Shares of cancer drug developer Celgene ( CELG) sank after the company said it expects to miss earnings and sales estimates in 2007. The company expects to earn $1 a share for the year on $1.3 billion in sales in 2007, compared with estimates of $1.09 a share on $1.38 billion in sales. The stock fell 4.4% to $54.77 Tuesday. Biotechnology company Genzyme ( GENZ) sank despite posting solid results. The company said revenue grew 17% to $852 million in the fourth quarter. For 2007, revenue is expected to reach $3.6 billion to $3.8 billion, and earnings excluding certain items should be between $3.10 and $3.20 a share. Analysts were expecting Genzyme to earn $3.16 a share on sales of $3.62 billion. The stock fell 1.3% to $66.16. Critical Therapeutics ( CRTX) shares gained 14.9% to $2.62 Tuesday after the company reported positive preliminary sales results for the fourth quarter thanks to higher sales of its asthma drug Zyflo as well as a recent price increase. The drugmaker expects to report $1.9 million to $2.1 million in sales of the drug. Alnylam Pharmaceuticals ( ALNY) gained 7.7% to $21.98 after the company said it entered a licensing agreement with Inex Pharmaceuticals. Inex will receive an upfront payment of $8 million in cash or Alnylam stock, and $4 million in research and development funding over the next two years to help develop Alnylam drug-delivery systems.