Gemini Therapeutics, a clinical-stage biopharma company dedicated to developing treatments for genetically defined age-related macular degeneration (AMD), announced a series of corporate updates. Among these is a corporate restructuring that will see 80 percent of the company’s workforce laid off.
Chicago-based AbbVie has been making major decisions with company-wide impacts that could benefit its bottom line.
The success of vaccines against COVID-19 has become a cash cow for Moderna, the Pfizer and BioNTech team, and Johnson & Johnson. Moderna, Pfizer, and J&J earned combined revenue of $31 billion from their COVID-19 vaccines in 2021.
Moderna reported $7.2 billion in fourth-quarter revenue and full-year 2021 revenue of $18.5 billion based on sales of the company’s only marketed product, the mRNA vaccine Spikevax for COVID-19.
Teva Pharmaceutical Industries Ltd. reported solid results for full-year 2021, posting $15.9 billion in revenue including a gain of $4.1 billion from the fourth quarter. The company recently settled an opioid-related case in Texas and is preparing to pay as much as $3.6 billion in cash and medicine to settle the lawsuits filed against Teva.
CVS Health Corp. expects to administer 70% to 80% fewer COVID-19 vaccines in 2022 compared with 2021, adding that in-store diagnostic testing could fall 40% to 50%.
Britain’s GSK forecast growth in 2022 after racking up 1.4 billion pounds ($1.9 billion) in COVID-related sales in 2021, beating quarterly forecasts in the company’s first earnings report since rejecting Unilever’s bid for GlaxoSmithKline’s consumer arm.
Pfizer Inc. expects 2022 sales of its COVID-19 vaccine and antiviral pill to top $54 billion, but that fell short of lofty Wall Street estimates and the biopharmaceutical company’s shares were off about 3 percent.
Amgen posted a 3 percent rise in total 2021 fourth-quarter revenue to $6.8 billion and a 2 percent increase in total revenue for the year to $26 billion, driven mainly through wins from “other” gains.
Regeneron Pharmaceuticals Inc. on Feb. 4 reported fourth-quarter 2021 revenue that beat analysts’ estimates, boosted by demand for the blockbuster drugs Dupixent and Eylea, coupled with higher sales of the company’s COVID-19 therapy.