Stock Watch: Different Regulators Bare Their Teeth At Biotech
Illumina May Not Be the Only Buyer To Face Barriers
When the sector worries about regulation it is usually about drug development and registration. But governments also regulate on monopolistic positions in life sciences. Adding to that, national security enforcement is now rising.
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In a third-quarter earnings report that was difficult to fault AstraZeneca left big pharma earnings season on a high note. But raised full-year guidance depends on Evusheld sales and maybe China.
While big tech is suffering from a return to normality after the pandemic, big pharma always had a recovery in its base business to return to. But after the third-quarter earnings season, it seems both base and pandemic pharmaceutical businesses are still co-existing for now.
Merck grew sales, increased financial guidance and beat analysts’ expectations, noting a base business recovery from the pandemic. Pfizer increased guidance and beat expectations for different reasons.