4Q preview: Amgen, Biogen, BMS, Celgene, Novartis, Pfizer and Roche
This article was originally published in Scrip
Executive Summary
The full-year reporting season began on 21 January with Johnson & Johnson reporting a strong showing from pharma sales (helped from an expected short-lived boost from its hepatitis C newcomer Olysio (simeprevir). Its fourth-quarter figures already showed the effects of "currency headwinds" that are expected to impact many in its pharma peer set in 2015. It warned that foreign exchange shifts with the recent strong appreciation of the US dollar will weigh on its 2015 figures. Goldman Sachs analysts believe big US pharma companies will take a 4-6% hit from currency headwinds in 2015, with about 37-50% of the top line hit flowing to EPS.
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