Novartis Big Earners Beat Q1 Forecasts
But Disappointing Quarter For Beovu
Cosentyx defied the odds again by growing strongly despite US formulary changes, COVID-19 and fierce competition, while the jump in Entresto sales helped soften the drug's failure in a closely watched myocardial infarction study.
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The second quarter could mark a financial turning point for big pharma as demand rebounds from the pandemic, but variability remains across portfolios and therapeutic areas.
Expanded indications will be key for Novartis's Beovu and a successful diabetic macular edema trial has provided a fillip, a week after the wet AMD-approved drug posted a 44% slump in sales.
Novartis’s comparatively anemic revenue growth and Lilly’s sales shortfall suggest that hopes for an immediate sector recovery from the pandemic are premature.