Latest From Mandy Jackson
Private Company Edition: Several drug developers targeting neurological diseases raised venture capital recently. In addition to Nura Bio, Encoded Therapeutics revealed a $135m series D round. Also, Longwood closed a $170m fund and Flagship launched Omega Therapeutics with $85m.
The expectation of a big second quarter sales decline proved true, but the situation is improving. Meanwhile, Merck & Co. is advancing two vaccines and an antiviral against the novel coronavirus.
Sales were down in the second quarter to $5.07bn, primarily due to coronavirus-related impacts, but Gilead’s COVID-19 antiviral therapy remdesivir will boost revenues in the second half.
Deal Snapshot: The $445m Cerevel gains will help as it plans to have at least six programs in the clinic within the next year. CEO Tony Coles will head up a public firm for the first time since Amgen bought Onyx.
The company previously cut 2020 revenue expectations by $2.5bn, including $1.7bn for pharma products. Keytruda’s dominance and portfolio diversification also may dominate second quarter call.
Amgen reported a 6% year-over-year increase in second quarter sales despite pandemic-related declines for several drugs as newer product gains and Otezla righted a rocky ship.