Stockwatch: GSK And AstraZeneca Rush Into Each Other’s Back Yards
Perhaps They Should Tend Their Own Gardens
It is one thing to aspire to build a rival to another company’s banner therapeutic franchise, but quite another to start from the ground up, especially when your form in that area is mixed.
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GlaxoSmithKline’s third quarter results included a 9% decline in sales in its vaccine business, but this was offset by tight cost controls and restructuring benefits; the company expects to continue investing in its pipeline and new product launches.
Factors in addition to the rejuvenation of pharmaceutical revenues and biotechnology product failures are likely to pull in opposite directions at the sector’s recovery from the pandemic.
Revenues are still elusive for a surprising number of the novel drugs approved by the FDA five years ago. Emergent safety issues and confirmatory clinical trial failures were less common than lack of competitiveness as the main reason for revenue weakness.