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.
Johnson & Johnson’s divisional recoveries were in contrast to the declines of Biogen’s franchises but both companies had a competitive pressure and a drug pricing issue.
With the latest Delta variant wave in the rear-view mirror, vaccine and antiviral sales, and their impact on full-year guidance, are likely to remain the big swing factors in third-quarter earnings season.