Stockwatch: Details Differ Between Pfizer And AstraZeneca's Second-Quarter Earnings Reports
As Analysts’ Low Expectations Continue To Beaten, Differences Remain In Big Pharma Earnings And Guidance
Investors in pharmaceutical companies appreciate details such as sales force dynamics, price-volume relationships and channel-stocking effects. Their absence can make investors wary.
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Early in 2020, company guidance was that pandemic-related effects would have dissipated in the third quarter. Issues specific to J&J and Roche leave this broad conclusion still up in the air.
Drugs that have failed in clinical studies often come back for another go, making the same mistakes for a new cohort of investors who missed the first failure. The global pandemic is also enabling this for once- or twice-failed drugs.