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.

Japan’s Shionogi & Co. Ltd. believes its COVID-19 pill will easily garner $2 billion in annual sales if it secures U.S. approval, which the company expects to receive in late 2024, its chief executive said.

Shares in Lundbeck rose 9% on Tuesday after the Danish drug maker posted fourth-quarter sales above forecasts and projected a more rapid increase in its profit margin in the coming years than analysts had expected.

Pharmaceutical companies that made billions from the pandemic over the past two years selling vaccines and treatments are now up against a steep COVID cliff and investor pressure to spend their windfalls wisely.

Pfizer Inc. on Tuesday forecast a bigger-than-expected drop in sales of its COVID-19 vaccine and treatment in 2023, intensifying investor concerns over demand for the products as governments cut orders and work through inventories.

AbbVie Inc. on Tuesday raised its 2025 sales forecast of its newer immunology drugs Skyrizi and Rinvoq to more than $17.5 billion as it hopes to replace the loss of revenue from its blockbuster rheumatoid arthritis drug Humira.

Bayer predicted on Tuesday its experimental drug against dangerous blood clots could make more than 5 billion euros ($5.4 billion) in peak annual sales, as the company seeks to revive a share price that has drawn interest from activist investors.

COVID-19 vaccine maker BioNTech on Monday raised the lower bound of its 2022 COVID-19 vaccine revenue guidance for the full year, citing demand for its adapted shots and higher prices.

Pfizer Inc. on Tuesday raised its forecast for annual sales of its COVID-19 vaccine by $2 billion to $34 billion on demand for Omicron-targeted boosters, helping allay some investor worries over growth for the vaccinations.

Eli Lilly and Co. on Thursday cut its full-year profit forecast for the second time as lower insulin prices and competition for the company’s cancer drug bruised its second-quarter earnings.