Earnings Briefs: Actavis, Celgene, InterMune, Lilly, Forest
Executive Summary
Companies are reporting out their half-year earnings and giving investors updates on the progress of their pipelines, as well as ongoing launch plans. Actavis and Warner Chilcott are in line as their merger approaches; Lilly’s Lechleiter gives an update on BD plans; AbbVie talks about its HCV combo; and Shire recommits to ADHD promotion.
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Hepatitis C combo is just one of AbbVie’s late-stage pipeline prospects to cover losses from generic competition to TriCor/Trilipix and the threat of biosimilar competition to Humira. It also has ABT-199, daclizumab and elagolix in Phase III studies.
Emerging Markets Earnings Roundup: Roche, Lilly, Bristol Myers Squibb (Part 2)
China remains the star in emerging markets, with Roche reporting 26% growth in China for pharma and 19% in diagnostics, and Eli Lilly & Co. reporting 18% growth in China. Bristol-Myers Squibb Co. had little to report on EMs, but it signed a manufacturing agreement with South Korea’s Samsung BioLogics for an undisclosed cancer drug.
Tax Benefits, Branded Portfolio, Synergies Drive Actavis’ Acquisition of Warner Chilcott
Actavis’ purchase of Warner Chilcott will lower the former’s overall tax rate significantly, expand its specialty pharma business to 25% of total revenues, and provide global critical mass – all necessary responses to a future that includes fewer opportunities for small molecule generics and greater pricing pressures.