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.
Novartis’s comparatively anemic revenue growth and Lilly’s sales shortfall suggest that hopes for an immediate sector recovery from the pandemic are premature.
Recovering pharmaceutical and medical device revenues at J&J hint at the green shoots germinating from the pandemic. Roche’s COVID-19 diagnostics revenue growth was its own green shoot, but can these be maintained as the pandemic evolves?