AstraZeneca's first-quarter sales dropped by 12%. Core earnings fell by 21%. Neither number approached Bristol-Myers Squibb's scary declines. Both companies are suffering big-time hits to their top drugs, because of generic competition. AstraZeneca's earnings actually beat expectations. So why are AstraZeneca analysts less positive about the company's results? It's all about the future.
AstraZeneca has wrapped up another Crestor patent fight. Two generics makers, Actavis and Egis, admitted that the cholesterol drug's patent is valid. And in return, AstraZeneca agreed to share the market in May 2016, 67 days before its pediatric exclusivity expires.
AstraZeneca ($AZN) chalked up a win in its fight to preserve Crestor's patent protection. A U.S. Appeals Court upheld the cholesterol drug's key patent, in a ruling that would stave off generic competition till 2016.
The best one can say about AstraZeneca's ($AZN) third quarter is that earnings weren't as bad as analysts had expected. Sales, however, dropped by 19% to a worse-than-expected $6.68 billion, thanks to an 83% plunge in Seroquel IR sales. And with Nexium's U.S. patent expiration looming, incoming CEO Pascal Soriot has plenty to keep him busy.
Some of the biggest blockbusters known to the pharma industry have dropped off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition lays sales to...
Some of the biggest blockbusters known to the pharma industry have been swept off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition awaits to chop up markets. Barring the development of new megablockbusters this list is likely to remain stable for some time. That's positive for the companies and their investors. It will also help fund major R&D operations around the globe. And the drive to improve performance should continue to drive innovation. Click here to check out the full report >>
For years now, statins, the cholesterol-lowering drugs, have been a major pillar of the drug industry. But a little cloud is forming over the category. Links to muscle injury were already documented, and now there is a growing body of evidence tying their use to the development of diabetes.
AstraZeneca's second-quarter results continue the generics-are-woe trend in Big Pharma. This time, it's the antipsychotic drug Seroquel doing most of the damage.
After a four-year stint of being unable to ship drugs from its plants in India to the U.S. and Canada, Ranbaxy Laboratories is returning in a big way.
Pharma's co-pay discounts have their fans--patients, certainly, but they also have their detractors.