Stockwatch: Expirations, the Euro and Q2 Expectations
This article was originally published in Scrip
With a handful of pharmaceutical companies and fewer biotechnology companies reporting second quarter financial results this last week, the stage has already been set for the crucial issues that should permeate through this reporting season.
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The impact of the coronavirus pandemic on investors’ portfolios was immediately apparent at the end of the first quarter of 2020. Equity market sell-offs are reflections of investors’ concern for future financial performance which, if material, may have to be announced early.
AbbVie’s latest, largest acquisition may be cast in a new light as the pandemic throws stock markets into turmoil and commercial prospects up in the air.
The prices of biotechnology and pharmaceutical sector indices continue to be comparatively robust in the face of big falls in global markets as investors expect new drugs and vaccines to be generated by the sector. While it is largely accepted that the life science sector will eventually ride to the rescue, bumper profits are far from guaranteed.