Stock Watch: J&J And Roche Invite Comparison
Early Q1 Earnings Reports Highlight Challenges And Green Shoots
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?
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Novartis’s comparatively anemic revenue growth and Lilly’s sales shortfall suggest that hopes for an immediate sector recovery from the pandemic are premature.
The health care giant’s medical device revenues grew 8.8% in the first quarter, reflecting the recovery of interventions and surgeries since the start of the pandemic.
Several biosimilars to Roche’s Avastin are now available in Europe following market formation in June last year, adding to Roche’s woes for its legacy oncology drugs, including MabThera/Rituxan and Herceptin.