Stockwatch: Coronavirus Takes A Bite Out Of AstraZeneca’s Guidance, GSK and AbbVie Get Spinning
With Great Potential For Emerging Market Sales Comes Great Volatility
The Coronavirus outbreak makes its first dent into pharma's 2020 prospects as AstraZeneca admits possible impact, while could AbbVie's aesthetic plans raise the prospect of another GSK-style spin off?
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With a long turnaround process now complete, AstraZeneca could hit double digit growth in 2020, thanks to existing products and new approvals such as roxadustat.
Despite Humira’s ex-US sales erosion, AbbVie reports strong launches for Skyrizi and Rinvoq, continued growth for hematological oncology franchise, and boasts it has a thriving R&D engine.
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.