Drug Firms Climb On Q2 Reports

Teva Pharmaceutical Industries (TEVA) climbed above an important chart level Wednesday, after the company's bullish guidance overshadowed mixed second-quarter results. And Biogen (BIIB) rallied after it beat Q2 estimates. Teva earnings thinned to 2 cents a share after subtracting costs from an acquisition. The profit came in below the consensus estimate of 5 cents a share. Revenue fell 1%.