One day after BridgeBio Pharma struck a nearly $1 billion oncology pact with Bristol Myers Squibb, the California-based company announced plans to sell a priority review voucher received in February.
Despite the loss of the company’s COVID-19 antibody REGEN-COV earlier in 2022, Regeneron posted a positive first quarter driven primarily by sales of Dupixent and Eylea.
Teva Pharmaceutical Industries believes the company would have to pay around $2.6 billion in cash and medicine to settle thousands of lawsuits alleging the world’s largest generic firm and other drug manufacturers fueled the U.S. opioid epidemic.
AstraZeneca’s COVID-19 vaccine still has market potential despite an expected global oversupply of shots and delays in the vaccine’s approval in the United States, the company’s chief executive Pascal Soriot said on April 29.
Gilead Sciences Inc. announced that first-quarter 2022 revenue rose 3 percent, helped by sales of the HIV drug Biktarvy and the COVID antiviral Veklury, but reported a net loss as the biotech company wrote down the value of its 2020 acquisition of Immunomedics following recent trial results for the cancer medicine Trodelvy.
GlaxoSmithKline exceeded expectations for the company’s first-quarter 2022 sales and earnings forecasts. This was largely driven by GSK’s sales of Xevudy, an antibody treatment against COVID-19 it developed with Vir Biotechnology, and the company’s Shingrix vaccine against shingles.
Novartis’ Sandoz business unit saw a strong financial performance in the first quarter of 2022, with overall sales growth of 8 percent, mostly outside of the United States. Sales for the generics and biosimilar unit benefited from what the company called a normalization of the impacts of COVID-19.
Japan’s Eisai Co. Ltd. will surrender the company’s rights to share profit from Aduhelm – the Alzheimer’s treatment drug jointly developed with U.S. partner Biogen Inc. – and instead receive sales royalties, the companies said on March 14.
Bristol Myers Squibb’s blockbuster cancer drug Revlimid finally has a competitor as Teva Pharmaceuticals announced the launch of a generic version of Revlimid, which could significantly cut into the global biopharmaceutical company’s earnings.
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.
