Biogen announced the widely awaited submission of a U.S. marketing application for the experimental Alzheimer’s therapy aducanumab, sending the company’s shares up more than 8 percent before the bell.
Zolgensma’s successful market uptake by payers may hold lessons for other manufacturers of costly gene therapies.
Johnson & Johnson forecast 2020 profit below Wall Street estimates and said increased competition for the company’s off-patent treatments could somewhat limit growth in the top-earning pharmaceuticals unit.
Walgreens Boots Alliance Inc.’s quarterly profit missed Wall Street estimates, hit by lower payments from insurers on drugs sold at the company’s U.S. pharmacies, knocking back the pharmacy store chain’s shares and those of rival CVS Health Corp.
Shares of Sarepta Therapeutics Inc. soared 32 percent after U.S. regulators shocked Wall Street by reversing their rejection of the muscle-wasting disorder therapy less than four months earlier.
U.S. drugmaker Bristol-Myers Squibb Co. reported higher-than-expected third-quarter 2019 profit, helped by strong sales of the blood thinner Eliquis, even as growth of the company’s blockbuster cancer treatment Opdivo slowed.
Pfizer Inc. reported a higher-than-expected third-quarter 2019 profit on increased sales of the cancer drug Ibrance and a strong launch of the new heart medicine Vyndaqel.
Merck & Co. Inc. expects the company’ immunotherapy Keytruda will continue the drug’s market dominance as an initial treatment for advanced lung cancer as sales of the medicine topped $3 billion in a quarter for the first time, beating lofty Wall Street estimates.
Gilead Sciences Inc. reported third-quarter results largely in line with Wall Street estimates, led by higher sales of the company’s HIV drugs, but deal-related costs led to a net loss.
Eli Lilly third-quarter 2019 sales missed Wall Street estimates as rebates limited revenue from the drug manufacturer’s top-selling diabetes medicine Trulicity, and shares fell about 4 percent.