Biogen Inc. on Feb. 3 forecast 2022 profit well below Wall Street estimates as sales of the company’s new Alzheimer’s disease drug stall amid questions over Aduhelm’s efficacy and a looming U.S. government coverage decision that could severely limit the medicine’s future use and force further cost cutting.
Gilead Sciences Inc.’s COVID-19 drug remdesivir during 2021 overtook AbbVie Inc.’s 20-year-old arthritis drug Humira as the medicine that U.S. hospitals spent the most on, according to Vizient Inc., a purchasing group used by about half the nation’s hospitals.
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.
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.
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.
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.
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.