Johnson & Johnson on Wednesday forecast double-digit profit growth for 2023 after spinning off consumer health company Kenvue (KVUE.N), unveiling the first outlook for its standalone drugs and medical device businesses.
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Pfizer will launch a cost-cutting program if demand for its COVID-19 products keeps underperforming expectations this fall, the U.S. drugmaker said on Tuesday, after quarterly sales for the vaccine and pill fell short of Wall Street targets.
Johnson & Johnson forecast 2023 profit above Wall Street estimates on Thursday, banking on strong demand for its cancer drugs and a recovery in sales of its medical devices due to an uptick in surgical procedures such as hip and knee replacements.
AstraZeneca on Thursday beat expectations for first-quarter profit and revenue, as buoyant sales of cancer treatment Imfinzi and strong demand for its roster of drugs in emerging markets helped to offset dwindling COVID product sales.
Bristol Myers Squibb said on Wednesday evening its CEO Giovanni Caforio would step down in November and will be replaced by current Chief Commercialization Officer Chris Boerner, as the drugmaker contends with increasing generic competition for its top-selling drugs.
Eli Lilly and Co. on Thursday raised its annual revenue and profit forecasts after topping first-quarter sales estimates on demand for its closely watched diabetes drug Mounjaro, ahead of a decision on its use as a treatment for obesity.
Drugmaker Merck & Co. Inc. on Thursday posted better-than-expected results for the first quarter on the strength of its blockbuster cancer immunotherapy Keytruda and human papillomavirus (HPV) vaccine Gardasil.
Abbott Laboratories reported quarterly profit above expectations on Wednesday, underpinned by sales of its diabetes care devices and an improved demand for other devices due to a resumption in non-urgent medical procedures.
Biogen Inc. (BIIB.O) Chief Executive Officer Christopher Viehbacher said on Wednesday he is banking on high-profile launches of Alzheimer’s disease treatment Leqembi and depression drug zuranolone, as well as deals, to help the company return to revenue growth.
Teva Pharmaceutical Industries, the world’s largest generic drugmaker, met fourth-quarter profit estimates, but its shares fell after its forecast of a largely flat year in 2023 disappointed investors.