Biogen CEO and Aduhelm out; Paxlovid generates $1.5B in sales for Pfizer.
Notably, AstraZeneca said that total revenue from its COVID-19 medicines is likely to decline by a “low-to-mid twenties percentage.”
Despite top-line growth, sales for Truvada and hep-C products fell by double-digits.
Lilly generated $660 million in revenue from its COVID antibody treatment, while Merck’s oral antiviral treatment produced sales of $3.2 billion.
The company said that it saw the impact of the pandemic ‘recede’ in the U.S. during March and April, leading to ‘improved demand patterns.’
The British pharma giant released its earnings two weeks after announcing a deal to acquire Sierra Oncology for $1.9 billion.
The Swiss pharma giant released its earnings weeks after announcing plans to institute a new organizational structure by the end of the year in an effort to contain costs.
The company also announced that its breast cancer drug, giredestrant, did not meet its primary endpoint during Phase 2 trials.
Global COVID testing-related sales totaled $3.3 billion during the quarter, led largely by continued demand for rapid testing products.
The decision to suspend the COVID-19 vaccine sales guidance was attributed to “global supply surplus and demand uncertainty.”
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