We’re closing out a big week of earnings in biotech, with good news for the industry’s nouveau riche, austerity for some stolid giants, and copious utterances of “great quarter, guys.”
Gilead Sciences outperformed expectations and then characteristically dodged the perennial question of just when it’s going to put that $37 billion pile of cash to use. Alexion Pharmaceuticals escalated its corporate weight-loss program — at the expense of Moderna Therapeutics — and posted strong sales numbers. Meanwhile, Amgen and Celgene handily cleared revenue hurdles that were perhaps set on the low side to begin with.
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