Q4 Earnings Preview: Pfizer, Amgen, Allergan, Biogen And Novartis
Executive Summary
Pfizer's fourth-quarter call will be the first with new CEO Albert Bourla, while Amgen will provide reassurances after US Neulasta and Epogen biosimilar launches. Also, concerns swirl around the impending impact of generics on Allergan's blockbuster Restasis, Biogen investors await news on Alzheimer's programs and M&A, and Novartis will face scrutiny of recent launches.
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Biogen Q2 Preview: Can It Change The Narrative After Q1 Strength Was Overshadowed?
Despite 11% sales growth during the first quarter, Biogen faces pessimism about continuing to pursue the amyloid hypothesis in Alzheimer’s and competitive threats to Spinraza and Tecfidera. ALS and biosimilars may offer upside.
Amgen Explains How Big A Hit It May Take From Biosimilars, Pricing Pressures
With Neulasta and Epogen facing competition and potential Sensipar generics launching this year, the company said revenues will fall from $23.7bn in 2018 to $21.8bn-$22.9bn in 2019. Amgen expects new launches and volume-driven sales growth – not price hikes – to boost revenue in the future.
Allergan Thinks It’s Ready To Withstand Restasis Generics
Allergan’s Restasis patent cliff is imminent: full-year sales of the dry eye product declined 14% and the firm expects US generic competition by Q2. But Botox growth is steady, Vraylar is poised to add a major indication and other pipeline assets may add growth.