Pfizer on Tuesday reported its first quarterly loss since 2019, as demand fell for its COVID products and it recorded a hefty charge mainly from the U.S. government returning millions of doses of its antiviral treatment Paxlovid.
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While medicines consisting of modified RNA have been decades in the making, it took the pressure of a global pandemic to push the promising technology past hurdles and onto the market. Thanks to a great deal of innovation, mRNA is now a household name and a rapidly expanding industry for the biopharma world beyond COVID-19. Over 250 potential mRNA therapies are currently being investigated in cancer, with more than 500 in other indications.
The pipeline culling comes as Roche sustains a slight dip in sales. From January to September 2023, the pharma group made over $49 billion, compared with $52.48 billion during the same period in 2022.
As the COVID-19 pandemic continues to recede, the top pharma companies intensified their focus into areas such as cancer and metabolic diseases to build up their pipelines, and their growth prospects, for the future.
While the company is no longer enjoying the benefit of enormous sales for its COVID treatment Veklury, Gilead is still doing very nicely, thank you very much.
Last year GSK made a strategic move to focus solely on biopharma, and it is already realizing the benefits of a more targeted business.
J&J is heading into the remainder of 2023 with a new look and a revised outlook.
Pfizer’s mRNA vaccine, Comirnaty, was the company’s highest-selling product once again, but leaders are looking to the Seagen acquisition for future growth.
Takeda’s top five brands all grew substantially in FY 2022, none by less than 30 percent.