Stockwatch: Big Pharma Strikes Back In Earnings War
After a phony first week for first-quarter earnings season, the second week was one of missed estimates and reduced guidance at big biotech companies. Last week – the third week – was different again, with big pharmaceutical companies restoring some honor to the life sciences sector.
You may also be interested in...
Pfizer Inc. could complete a business breakup in about one year if the company decides to move forward with a split, CEO Ian Read said during the company’s first quarter sales and earnings call May 3.
Sanofi clearly would benefit from its proposed $9.3bn purchase of Medivation Inc. based on the French company's first quarter earnings, which show a pharmaceuticals business that's suffering from competition, US drug pricing pressures and foreign currency exchange issues.
Eli Lilly & Co.'s first quarter earnings met analyst expectations with help from recently approved products, but greater growth in future years depends on a closely-watched Phase III Alzheimer's program.