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MEDICAL
Cigna earnings down 42% in Q2
The U.S. HMO earned $1.13 a share, a nickel above views. Revenue slid 2% to $4.6 bil. Total medical membership fell 8% to about 12 mil. Cigna expects to earn $1.15-$1.35 in Q3 and $5-$5.25 for the full year, above analysts' forecasts for $1.16 in Q3 and $4.92 in '03.
Positive FDA response for Biopure
The biotech said regulators asked for more information on its Hemopure blood substitute product, but didn't ask for additional clinical trials, which may bring it a step closer to FDA approval. Biopure's product is derived from cows' blood, then purified. Shares shot up 22% to a 52-week high of 7.30.
** Cardinal Health OK'd a $1 bil buyback plan. The ...