pharmaceuticalcompanies
Danish biotech giant Bavarian Nordic’s shares gained on Thursday, after the company bagged an increasing number of European Mpox vaccine orders and revealed better-than-expected second quarter earnings. As a result, it also highlighted that it would likely achieve the higher end of its 2024 guidance. Bavarian Nordic’s shares soared 12.15% to DKK 277 (€37.12) on Thursday afternoon. The new guidance for the entire year 2024 at the higher end of the range expects earnings before interest, taxes, depreciation and amortisation to be about DKK 1,350m (€180.91m). Aggregated revenue is likely to be ab...
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The German pharmaceutical industry has warning of possible drug shortages after China tightened its espionage laws. Four out of Germany's 16 states have now cancelled routine quality control trips to China by their inspectors as they're concerned they could fall foul of the law. The states say they can no longer guarantee the safety of their inspectors on visits to Chinese pharmaceutical factories. "Some active ingredient certificates have already expired or are threatening to expire in the next few months, which will lead to a standstill in the supply chain for various drugs," the German Phar...
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A number of healthcare and pharmaceutical companies worldwide saw their shares surge following the World Health Organisation (WHO) declaring a rapidly-spreading African mpox outbreak - a public health emergency of international concern (PHEIC). Mpox, formerly known as monkeypox, was first discovered in monkeys used in research in Denmark in 1958. The first reported human case of Mpox was a nine month old boy in the Democratic Republic of Congo in 1970. In recent times, Mpox saw a global outbreak in 2022-2023. Now, a new variant has emerged, causing cases of mpox to spread to countries which di...
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At the time of writing, shares in Bayer were up 12.38% at €29.67, after the company won a legal battle to limit liability from claims that its Roundup weedkiller causes cancer. The plaintiff, David Schaffner, a Pennsylvania landscaper, claimed that Bayer's Monsanto unit violated state law by failing to put a cancer warning on the label for Roundup. However, a US appeals court said that federal law governing the pesticide’s warning label trumped Pennsylvania laws. Bayer said, according to Reuters, that it was pleased with the decision and has maintained that Roundup and its active ingredient gl...
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Pharmaceutical giant AstraZeneca earlier on Wednesday hit a valuation of £200.3bn (€233.14bn) making it the only current UK-listed company to reach such a valuation. Its success reflects the ongoing success of its cancer drugs portfolio. AstraZeneca has developed a robust diabetes and cancer drug portfolio over the past few years, with several plans for new and more advanced cancer medications to be launched as well. One of the company’s key drugs, Enhertu is used to treat breast cancer as well as other types of cancer. French-born boss of AstraZeneca named highest-paid CEO in BritainAstraZene...
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The CEOs of Britain's biggest firms received record levels of compensation last year, according to the High Pay Centre, the think tank that compiled the figures. Median pay for the boss of a FTSE 100 firm rose to £4.19m (€4.90m), a 2.2% annual jump. The mean figure, which takes into account very high and low values, rose from £4.44m to £4.98m - a 12.2% increase (€5.19m to €5.82m). Topping the compensation list was French-born Australian Pascal Soriot, who earned £16.85mn (€19.69mn) as the CEO of pharmaceutical giant AstraZeneca. The second highest-paid CEO was RELX's Erik Engstrom, on £13.64m ...
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Europe's largest company, Novo Nordisk, saw its shares fall by 7% at market open following a disappointing second-quarter earnings report. The Danish pharmaceutical firm has trimmed its operating profit forecast for 2024, despite an upgrade in net sales. This suggests that rising supply may have increased price pressure, while substantial investment in new plants has impacted its profit margin. NumbersFor the second quarter, Novo Nordisk reported revenue of 68.06 billion Danish Kroner (€9.12bn), a 25% increase from last year at constant exchange rates (CER), but it fell short of the expected 2...
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German pharmaceutical giant Bayer AG released its second quarter and half year 2024 earnings on Tuesday morning, with the company seeing an average performance in the second quarter, due to the agricultural market environment becoming tougher. This led to the company seeing increased sales, but falling earnings in the second quarter of 2024. The Bayer Group saw group sales of €11.1bn for the second quarter this year, which was a 3.1% rise on a currency and portfolio-adjusted basis. Earnings before interest, tax, depreciation and amortisation (EBITDA) before special items in Q2 2024 was €2.1bn,...
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Swiss drugmaker Roche is to speed up the launch of its anti-obesity drugs, following the ongoing success of rivals Novo Nordisk and Eli Lilly in the weight loss market. The company’s weight loss pills and injectables are now expected to hit the market by 2028. These drugs have been acquired by Roche following the takeover of the biotechnology company Carmot Therapeutics back in January. The takeover gave Roche access to a Phase-2 ready subcutaneous injectable, which could potentially be a standalone treatment, also having the capacity to be used in combination with other weight-loss treatments...
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Sanofi no longer expects a fall in full-year profit after a promising set of second quarter results, shared on Thursday. Operating income, excluding one-off items, rose by 3.2% to €2.81bn, surpassing the €2.08bn expected on average by analysts in a company-provided poll. Earnings per share for the quarter came in at €1.73, a 0.6% fall compared to the same period a year earlier. For the whole of 2024, earnings per share are predicted to be in line with 2023's total, an upgrade from a previously forecasted single-digit percentage decrease. Sanofi downgraded its 2025 margin targets last October t...
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