Stock Watch: Big Pharma Earnings Season Gets Messy
Recovery Dynamics Vary Across Therapeutic Areas And Pandemic Products
A post-pandemic rebound in oncology sales contrasts with the lagging revenues of drugs administered by primary care and office-based specialists. Declining COVID-19 vaccine, diagnostic and treatment revenues could add further volatility.
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The second-order pandemic effects on labor and logistics that have plagued other sectors appeared across J&J’s earnings announcement. With the biggest impact at its consumer business, why then has demand for J&J’s COVID-19 vaccine plummeted?
Another blow-out quarter from Pfizer provided the impetus for an acquisition. But the history of recent commercial-stage biotech transactions and the risky nature of all early-stage companies suggest that the floodgates will not burst open.
Declining COVID-19-related diagnostic and therapeutic sales are likely to expose long-standing weaknesses and amplify the effects of new pressures that were masked during the pandemic.