Tag Archive for: sales forecast

Laboratory operator Quest Diagnostics beat fourth-quarter estimates and forecast 2024 sales above Wall Street expectation on Thursday, as it benefits from strong demand for its routine testing kits, excluding COVID products.

Today the company reported higher-than-expected results in the third quarter on surprisingly strong demand for its COVID-19 treatment, primarily in Japan, and raised its annual sales forecast for the therapy.

“With some uncertainty on the revenue line, we are also carefully watching our spending by revisiting our cost base,” said finance chief Jens Holstein, adding that BioNTech’s ambition to become a multi-product oncology and infectious disease company was unchanged.

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.