Tag: Biotech and Pharmaceuticals

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CVS beats estimates, but cuts full-year profit outlook on higher medical costs
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CVS Heath (CVS) Q4 2023 earnings

CVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher medical costs that are dogging the broader insurance industry. The company lowered its 2024 adjusted earnings forecast to at least $8.30 per share, down from a previous guidance of at least $8.50...

How soaring demand for Ozempic and Wegovy have led to Novo Nordisk's meteoric rise
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Novo Nordisk hits $500 billion in market value as it flags soaring demand for Wegovy, Ozempic

Liselotte Sabroe | Afp | Getty Images Novo Nordisk on Wednesday reported better-than-expected 2023 earnings, as sales of its wildly popular anti-obesity and diabetes drugs continued to soar. The maker of weight loss drug Wegovy and diabetes drug Ozempic reported an increase in sales of 31% in Danish kroner and 36% at constant exchange rates...

Walgreens posts earnings beat but slashes quarterly dividend nearly in half
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Walgreens (WBA) earnings Q1 2024

Walgreens reported fiscal first-quarter adjusted earnings and revenue that topped expectations on Thursday, but cut its quarterly dividend nearly in half.  The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen [its] long-term balance sheet and cash position,” CEO Tim Wentworth, who officially took the helm during...

Moderna posts quarterly loss as company takes $1.3 billion write-down on unused Covid shots
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Moderna (MRNA) Q3 earnings report 2023

Moderna on Thursday posted a steep loss for the third quarter as the drugmaker recorded a large write-down due to unused doses of its Covid vaccine, its only marketable product.  Moderna’s total revenue for the period topped Wall Street’s expectations, even amid plummeting demand for its shot. Its outlook for next year, however, came in...

Merck CEO Rob Davis on Q2 results: We continue to see phenomenal growth
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Merck (MRK) Q2 earnings report 2023

Merck on Tuesday reported second-quarter revenue that topped expectations on strong sales of its blockbuster cancer drug Keytruda and HPV vaccine Gardasil. The pharmaceutical giant posted a quarterly loss, however, due to charges associated with the company’s acquisition of Prometheus Biosciences earlier this year.  Merck swung to a net loss of $5.98 billion, or $2.35...

J&J CFO Joseph Wolk on Q2 earnings beat: We're in a very strong position for second half of 2023
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Johnson & Johnson (JNJ) Q2 earnings report 2023

Johnson & Johnson on Thursday reported second-quarter revenue and adjusted earnings that topped Wall Street’s expectations, and lifted its full-year guidance as sales from the company’s medtech business jumped. The medtech division provides devices for surgeries, orthopedics and vision. The company is benefitting from a rebound in demand for non-urgent surgeries among older adults, who...

3 health-care stocks are in the headlines. How the news impacts our investments
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UnitedHealth Group (UNH) earnings Q2 2023

Representatives speak with customers at a UnitedHealthcare store in Queens, New York. Michael Nagle | Bloomberg | Getty Images UnitedHealth Group’s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street’s expectations despite rising medical costs. The results eased investor concerns after the Minnesota-based company flagged a...

Walgreens earnings tumble on lower Covid demand
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Walgreens (WBA) earnings Q3 2023

Walgreens Boots Alliance on Tuesday slashed its full-year earnings guidance as it fell short of Wall Street expectations for its fiscal third quarter due to lower consumer spending and a drop in demand for Covid vaccines and testing. The retail pharmacy chain lowered its earnings guidance to a range of $4.00 to $4.05 per share...