Biogen Inc. is pinning hopes on a decision on U.S. government coverage of the company’s Alzheimer’s disease drug during 2022 to help drive up Aduhelm’s usage, after a big miss on third-quarter 2021 sales of the much-awaited treatment.
Biogen Inc.’s Alzheimer’s drug will be of little help to the company’s third-quarter sales, Wall Street analysts said, as the drugmaker faces an uphill task of convincing hospitals and clinics to use the $56,000-a-year treatment and insurers to reimburse Aduhelm.
Johnson & Johnson on Oct. 19 reported lower-than-expected quarterly revenue after sales of the company’s Covid-19 vaccine missed Wall Street estimates following a string of production setbacks.
Bristol Myers Squibb Co. reported second-quarter 2021 earnings that topped Wall Street estimates, as sales of the company’s flagship cancer treatment Opdivo returned to growth after missing estimates in the previous quarter.
U.S. Covid-19 cases are up around 11 percent over the previous week – almost entirely among people who have not been vaccinated – officials said on July 8, as the highly infectious Delta variant becomes the dominant Covid-19 strain in the country.
Johnson & Johnson said the company’s single-shot Covid-19 vaccine showed promise against the highly contagious Delta variant in a laboratory study.
U.S. biotech Amgen Inc. provided a 2021 earnings forecast below Wall Street estimates and said the company paused or halted enrollment for clinical trials of three cancer drugs.
Biogen Inc.’s shares slumped as the drugmaker’s chances of getting a regulatory approval for the experimental Alzheimer’s treatment aducanumab suffered a blow after a panel of experts to the U.S. Food and Drug Administration voted against the medicine.
Biogen Inc. showed “exceptionally persuasive” evidence that the company’s experimental Alzheimer’s disease drug aducanumab is effective, U.S. Food and Drug Administration staff said, elevating chances of a swift approval and sending company shares soaring.
Gilead Sciences Inc. cut the company’s 2020 revenue forecast, citing lower-than-expected demand and difficulty in predicting sales of remdesivir, the only treatment approved in the United States for patients hospitalized with Covid-19.