Stockwatch: GSK And AstraZeneca Rush Into Each Other’s Back Yards
Perhaps They Should Tend Their Own Gardens
It is one thing to aspire to build a rival to another company’s banner therapeutic franchise, but quite another to start from the ground up, especially when your form in that area is mixed.
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GlaxoSmithKline’s third quarter results included a 9% decline in sales in its vaccine business, but this was offset by tight cost controls and restructuring benefits; the company expects to continue investing in its pipeline and new product launches.
When AstraZeneca closed out big pharma earnings season, its usually dominant therapeutic franchise missed analysts’ expectations. Merck’s, on the other hand, did not disappoint.
The sales performances of the GLP-1 agonists dominated the earnings of Novo Nordisk and Lilly, with both stocks hitting 52-week highs after their results. But one moved ahead of the other in an important strategic bottleneck.