Stock Watch: Binary Second-Quarter Oncology And COVID-19 Trends
Favorable And Unfavorable Comparisons Resulting From The Pandemic
Oncology drug sales plummeted during the pandemic leading to a backlog of untreated patients that lingered even after the impact of COVID-19 drugs. While Q2 reports suggest this cancer backlog is now being addressed, the contrasting fates of vaccines and treatments for SARS-CoV-2 are actually turning out to be opaquer than expected.
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The era of follow-on medicinal chemistry has largely been eliminated by more comprehensive patent protection. Nowadays, investors trade on the differences in safety and efficacy for similar molecules.
News that the UK government will not procur any doses of AstraZeneca’s Evusheld for the prevention of COVID-19 infections in immunocompromised people has been greeted with dismay and the move will hurt the combo's already-limited sales growth.
Pfizer recorded the largest quarterly sales in its history as its COVID-19 franchise easily outweighed the currency issues that are challenging other companies. But expectations for a quick end to the pandemic have wiped these gains from Pfizer’s stock price.