Five things for pharma marketers to know: Wednesday, August 8, 2018
President Donald Trump said he is planning an announcement next week that will bring down the price of prescription drugs “really, really substantially.” However, Trump didn't further explain his plans at a dinner with corporate leaders at his Bedminster, New Jersey, golf club. (Bloomberg)
CVS Health topped analysts' estimates for profit and revenue in Q2. The company's revenue from retail pharmacies increased by 5.7% to $20.7 billion, with pharmacy revenue up by 8.3%. Front-end sales growth was slower at 0.2%. (CNBC)
Novo Nordisk also surpassed Q2 earnings expectations with net profit of $1.6 billion on the back of its diabetes and obesity treatments. However, it also reported declining sales of Levemir, a long-acting insulin. (MarketWatch)
AstraZeneca has reached agreements to settle two lawsuits for $110 million. Both suits were brought by the state of Texas, which claimed the drugmaker fraudulently marketed antipsychotic treatment Seroquel and cholesterol drug Crestor. (Reuters)
Startup Akouos has raised $50 million in an A round of funding. The round was led by 5AM and New Enterprise Associates. The startup is primarily focused on a rare genetic mutation that causes deafness in newborns (Endpoints).