Biogen tops earnings expectations, but still has some longer-term issues to address

Shares of Biogen Inc. gained 4.5% in Tuesday intraday trade, after the company reported second-quarter results that surpassed analysts’ expectations and announced that it would be raising its full-year forecast. Revenue for the latest quarter grew 8% to $3.62 billion in the year-earlier quarter, bolstered by sales of key drugs Tecfidera and Spinraza. FactSet analysts had predicted revenue of $3.48 […]

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J&J beats Wall Street expectations for second-quarter earnings, boosts guidance

Shares of Johnson & Johnson rose 0.5% in premarket trade Tuesday after the company reported second-quarter earnings and revenue that soundly beat Wall Street expectations. J&J’s JNJ, +0.31% profit JNJ, +0.31%for the latest quarter rose 42% to $5.607 billion, or $2.08 per share, from $3.954 billion, or $1.45 per share, a year ago, lifted by a pretax gain of $2 billion […]

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Health companies start reporting earnings next week: Here are 3 things to keep in mind

Health companies will begin reporting second-quarter earnings next week, starting with two Dow components, Johnson & Johnson and UnitedHealth Group Inc. It has been a tumultuous few months for managed-care companies, pharmaceutical companies and biotechs. Fears around “Medicare for all” weighed on earnings last quarter. Shares of UnitedHealth UNH, +1.58% facing investor anxiety about the implementation a single-payer system, dropped […]

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GW Pharma shares soar 9% premarket as Oppenheimer upgrades to outperform

GW Pharmaceuticals PLC shares GWPH, +2.62% soared 9% in premarket trade Tuesday, after Oppenheimer upgraded the stock to outperform from perform, after the company reported better-than-expected earnings along with positive results in a late-stage trial of its Epidiolex treatment. Epidilolex is the first cannabis-based drug to win approval from the U.S. Food and Drug Administration as a treatment for severe […]

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CVS raises guidance for 2019 after earnings beat as Aetna boosts revenue

CVS Health Corp. raised its full-year guidance on Wednesday, after reporting sales and earnings that topped Wall Street expectations. Following a downbeat projection for 2019 in February, CVS CVS, +5.42% snapped back by delivering sales of $61.65 billion, up 35% from a year ago and ahead of FactSet analysts’ expectation of $60.38 billion. The company raised its 2019 adjusted EPS guidance […]

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Eli Lilly misses on revenue in face of pricing pressures and growing generic competition

Facing increasing pricing pressures and generic competition, Eli Lilly & Co. on Tuesday reported first-quarter revenue that fell below analysts’ expectations. The miss was driven by weaker-than-expected sales from diabetes medication Trulicity and plaque psoriasis treatment Taltz, though profit topped Wall Street estimates. Shares of the drugmaker LLY, -2.22% fell 2.5%. The drugmaker said revenues could be negatively affected by pricing […]

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Biogen stock plummets 28% after company halts Alzheimer’s trials

Shares of pharmaceutical giant Biogen Inc. plunged 28% on Thursday morning after the drugmaker said it would discontinue its Phase 3 trials of aducanumab, an investigational drug designed to slow cognitive decline in patients with early Alzheimer’s disease. The move has put the stock on track for its biggest one-day percentage slide since August of 2008. Biogen BIIB, -29.17% and […]

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Shares of Sage Therapeutics up on Zulresso approval, but analysts expect a slow rollout

Shares of Sage Therapeutics Inc. SAGE, +0.49% rose 3% Wednesday morning after the company said that the U.S. Food and Drug Administration had approved its drug for the treatment of postpartum depression. Wall Street largely expected the drug’s approval, which was based on two Phase 3 studies that evaluated patients with either moderate or severe postpartum depression. Those trials showed that […]

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OxyContin maker Purdue Pharma reportedly considers bankruptcy to protect from lawsuits

OxyContin maker Purdue Pharma is considering filing for bankruptcy protection to protect itself from potential liability from more than 1,000 lawsuits, according to a new report. The Wall Street Journal said Monday the company has hired at least two companies known as restructuring advisers, and added a restructuring specialist as chairman of its board. While the Connecticut-based company has no […]

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