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.
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.
Amgen Inc.’s second-quarter revenue fell 3 percent due to more competition for the company’s older off-patent drugs, but rising sales of newer medicines helped the biotechnology innovator’s results exceed Wall Street forecasts.
Gilead Sciences Inc. beat Wall Street estimates for second-quarter 2019 revenue and profit, driven by higher sales of HIV treatments, and the U.S. drugmaker raised the company’s full-year sales forecast.