Teva Pharmaceutical Industries forecast lower revenue and profit for 2019, missing analysts’ expectations, as the company faces generic competition for two key branded drugs.
Eli Lilly embraced a U.S. government proposal to end a decades-old system of rebates drugmakers make to industry middlemen.
Gilead Sciences reported earnings per share profits for the 2018 fourth quarter of $1.44 per share, below analysts’ expectations of $1.70. Revenue for the quarter was $5.8 billion, better than Wall Street’s $5.5 billion expectations, but down from $5.949 billion in the same quarter during 2017.
Merck & Co.’s cancer immumotherapy Keytruda compiled sales that topped $2 billion in a quarter for the first time, exceeding Wall Street’s lofty estimates and sending the company’s shares up.
Novo Nordisk reported solid growth for the company’s new diabetes drug and will submit a tablet version – a key growth hope – for U.S. approval in first-quarter 2019, lifting the Danish drugmaker’s shares.
Takeda Pharmaceutical Co. Ltd. posted a 27.9 percent rise in operating profit for the October-December 2018 period, supported by strong sales of the company’s drugs for bowel disease and multiple myeloma.
Celgene Corp. – which is being bought by Bristol-Myers Squibb Co. – reported a better-than-expected fourth-quarter 2018 profit, driven mainly by higher sales of the psoriasis drug Otezla.
Roche expects sales and earnings to rise in 2019 as new drugs more than offset competition from copies of the Swiss drugmaker’s $20 billion-plus per year trio of cancer medicines Rituxan, Herceptin and Avastin.
Amgen Inc. reported fourth-quarter 2018 profit that easily surpassed expectations as sales rose and tax expense fell, but competition for the company’s older medicines is growing and the drugmaker forecast 2019 earnings below Wall Street estimates.
Allergan Plc forecast 2019 revenue below expectations on looming competition for some of the company’s top drugs, and shelved plans to sell the women’s health business.