Earnings
Shares of Global Blood Therapeutics are surging once again after reports indicate Pfizer is the mystery suitor for the company. Pfizer could potentially pay as much as $5 billion for the company.
The agreement will grant Innovent exclusive development and marketing rights to tusamitamab in China, while Sanofi will be entitled to up to $81 million in milestones and royalties.
Horizon Therapeutics, Eli Lilly, Gilead Sciences and more hit financial road bumps or missed the mark entirely in their Q2 earnings reports.
The big hit has been for its insulin Lispro products. Since January 1, Lispro and Humalog have dropped 26% to $447.1 million in the first quarter.
In its Q2 earnings report, Amgen revealed the demise of two HLE BiTE molecules. Also on Thursday, the company announced it is acquiring ChemoCentryx for $4 billion.
The real positive drivers were Eylea and Dupixent. Eylea climbed 14% to $1.62 billion, while Dupixent sales jumped almost 40% to $2.09 billion for the second quarter.
There are many more shots on cancer this week as funding went to oncology-focused companies such as GluBio and Shanghai-based OriCell.
Roche signed a big $6 billion-plus collaboration deal with Poseida on blood cancers while its partner, AC Immune, parsed failed data on an Alzheimer’s drug to suggest a positive spin.
While Moderna’s sole marketable program is its COVID-19 vaccine, CEO Stéphane Bancel said the company is “actively working to prepare...new product launches to help patients and drive growth.”
Gilead’s total revenue for Q2 increased 1% to $6.3 billion compared to Q2 in 2021. Overall, the company exceeded both its own expectations and the predictions of market analysts for the second quarter.
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