Bristol-Myers Squibb stood by its $60-a-share offer for ImClone Systems, a day after the biotechnology company spurned Bristol's offer and said it had another bid at $70 a share.

Boston Scientific quarterly earnings fell 15 percent on declining sales of its drug-eluting stents and charges for acquisitions, divestitures and restructuring.

Drug developer Eli Lilly will buy SGX Pharmaceuticals for about $64 million in cash in an effort to expand its drug discovery efforts, the companies said Tuesday.

Amgen Inc., the world's largest biotechnology company, reported earnings of $1.12 per share on first-quarter revenues of $3.6 billion on Thursday, beating most Wall Street expectations on cost-cutting measures.