Pfizer Inc. forecast 2019 profit and sales below Wall Street estimates as the company expects to take a blow from a stronger dollar and as well as the loss of patent on the blockbuster pain treatment Lyrica during 2019.
Biogen Inc. beat analysts’ estimates for fourth-quarter profit and revenue, buoyed by higher sales of the company’s top-selling multiple sclerosis drugs, and forecast full-year profit ahead of Wall Street expectations.
AbbVie reported a loss of $1.83 billion for the fourth quarter of 2018. Overall revenues were up for full-year 2018, however, hitting $32.75 billion compared to $28.2 billion in 2017.
Bristol-Myers Squibb reported that fourth-quarter 2018 revenue was up 10 percent and full-year revenue increased 9 percent.
Bristol-Myers Squibb withdrew the U.S. approval application for a combo of the cancer immunotherapy drugs Opdivo and Yervoy.
Abbott’s fourth-quarter 2018 revenue fell short of Wall Street expectations due to lower sales of generic drugs in emerging markets as well as a strong dollar, and the healthcare company forecast first-quarter 2019 earnings below analysts’ estimates.
Johnson & Johnson reported better-than-expected fourth-quarter revenue, helped by strong demand for the company’s drugs to treat cancer and psoriasis.
Selecta Biosciences announced restructuring efforts that include reducing the Watertown, Mass.-based company’s workforce by 36 percent.
Strong demand for AstraZeneca’s new drugs – especially those for cancer – drove a return to sales growth in third-quarter 2018 and the drugmaker anticipates years of sustained improvement and rising profit margins.
Indian drugmaker Dr. Reddy’s Laboratories posted a 69.7 percent jump in fiscal second-quarter 2018 profit, helped by new product launches.