Stock Watch: The Pandemic Still Permeates Through Q3 Earnings
In Addition To Currency And Capacity Issues
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.
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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.
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The Danish firm’s GLP-1 receptor agonist triggered significant weight loss in a Phase III trial in obese teenagers, sparking filing plans that could strengthen the product’s market share even as rival Eli Lilly mounts a threat with Mounjaro.