Last week’s quarterly earnings from many mega cap stocks offered a mixed bag for investors. By the end of the week, shares were most break-even. The break-out in pharmaceutical stocks is still on hold.
GlaxoSmithKline (NYSE: GSK) reported a 2.2% decline in revenue. At around $11 billion in quarterly revenue, the company’s highlight from the conference call is the fast start of vaccine sales, led by Shingrix. New launches in Trelegy and Juluca were also strong.
Management said "Shingrix represents a new standard of prevention with more than 90% efficacy in the prevention of shingles. And last year we received a preferential recommendation from ACIP, giving us target universe over 100 million patients in the U.S."
At a 14x forward P/E, expect GSK stock to outperform the biotech index.
Biogen (NASDAQ: BIIB) reported soft Q1 results. But Spinraza is stable for the company. This drug is used for treating spinal muscular atrophy, a rare neuromuscular disorder. Revenue rose 11% to $3.13 billion. Net income grew 56.9% to $1.173 billion in the quarter.
Sanofi (NYSE: SNY) gave up its gains in April and closed flat for last week after reporting Q1 net sales falling 0.5 percent to $7.9 billion. Three partnered drugs with Regeneron (NASDAQ: REGN) all missed expectations.
Dupixent sales were $129 million ($165 million consensus), Praluent, which treats high cholesterol, booked $59 million. Rheumatoid arthritis drug Kevzara took in $8.5 million in bookings.
Dupixent U.S. sales actually exceeded estimates when excluding the impact of inventory levels and patient assistance programs.
Related Stories
