Stock Watch: The Mixed History Of Biotech Company Separations
Was Bluebird’s Split Accompanied By Premature Enthusiasm?
The path of spin-offs from loss-making biotech companies with weak investment propositions seems clouded with examples that often resulted in an appointment with the liquidator.
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The company is deferring investment in a US commercial team and prioritizing R&D activities, but it outlined an accelerated path to approval for LentiGlobin in sickle cell disease.
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.
Claiming quarterly wins by expressing sales at constant exchange rates or including one-off tax breaks does not endear companies to investors because they are unpredictable and not reproducible.