Stock Watch: Reading The Tea Leaves For Pharma Q1 Earnings
Diagnostics Companies’ Pre-Announcements Presage Pressures On Drug Revenues
Contrasting first-quarter preannouncements from a DNA sequencing company and a molecular diagnostics company may, with other seasonal pressures, imply a comparatively weak first quarter for therapeutic drug companies.
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Illumina announced plans to acquire Grail for about $8bn in September 2020, but the US FTC says the proposed acquisition will diminish innovation in the US market for multi-cancer testing.
Influenza and pneumococcal vaccine sales were initially strong at the start of the pandemic. Recent weak revenues for travel, childhood and premium vaccines could raise population immunity concerns, however.
An early high for Pfizer with its strong first-quarter results was followed by patent waiver worries. At the other end of the spectrum, Esperion reminded us of the challenges in making a commercial success as a small biopharma firm in the pandemic.