Stock Watch: AstraZeneca’s Third-Quarter Crescendo
Big Pharma Earnings Season Ends With A Knock-Out Report
In a third-quarter earnings report that was difficult to fault AstraZeneca left big pharma earnings season on a high note. But raised full-year guidance depends on Evusheld sales and maybe China.
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Now approved for the treatment as well as the prevention of COVID-19 in the EU and Japan, the UK major’s antibody combo passed the $500m sales barrier in the third quarter and CEO Pascal Soriot is confident that growth will continue.
Can the development of coronavirus vaccines and therapeutics reverse the demonization of the pharmaceutical sector brought about by drug price increases?
In a wilderness period for biotech stocks, platform company revenues may offer investors less volatile biotech exposure. They are unlikely to shepherd an exit from the current doldrums, though.