Pharma Stock Roundup: BAYRY's Q4 Results, ABBV's Obesity Deal & More
Here's a recap of the week's most important stories.
Novo Nordisk is launching a new direct-to-patient online pharmacy called NovoCare, which will offer Wegovy at a discounted price of $499 per month, less than half of its listed price. This offer is for patients who do not have insurance coverage and pay by cash as well as those with insurance but have no coverage for obesity medicines. The website provides an option for these patients to have their injections delivered to their homes.
Novo Nordisk's announcement follows a similar move by rival Eli Lilly. Last week, Lilly also announced that it is reducing the prices of its 7.5 mg and 10 mg single-dose vials of obesity treatment Zepbound to $499 per month for customers paying through a new self-pay program called LillyDirect Self-Pay Pharmacy Solutions.
Bayer's fourth-quarter core earnings of €1.05 per share declined 43.2% year over year. Sales of €11.7 billion rose 0.1% on a currency and portfolio-adjusted basis. Sales in the Crop Science segment decreased 2.3%. Pharmaceuticals segment sales increased 2.4%, while Consumer Health sales declined 0.9% on a currency and portfolio-adjusted basis.
In the Pharmaceuticals segment, sales of new products, cancer drug Nubeqa and kidney drug, Kerendia, remained strong, offsetting the loss of exclusivity impact on sales of oral anticoagulant Xarelto. The pace of growth in the Consumer Health business has slowed down. The Crop Science business was adversely impacted by lower prices in the crop protection business due to competitive pricing pressure.
Bayer issued a financial guidance for 2025. The company expects 2025 to be a 'pivotal year' and the most difficult in terms of financial performance. Sales are expected to be in the range of €45-€47 billion in 2025. Core EPS is projected to be in the band of €4.50-€5.00. Bayer expects its performance to improve from 2026.
AbbVie in-licensed rights to develop a phase I candidate, GUB014295, a long-acting amylin analog for the treatment of obesity from Danish biotech, Gubra. AbbVie will lead the development of the candidate. For the deal, which marks AbbVie's entry into the obesity space, it will make an upfront payment of $350 million to Gubra. It will also pay milestone payments of up to $1.875 billion to Gubra.
The FDA accepted a supplemental biologics license application (sBLA) seeking approval for Roche's Gazyva/Gazyvaro for the treatment of lupus nephritis. The sBLA was based on based on data from the phase III REGENCY study. The FDA's decision on the sBLA is expected by October 2024. A similar application is also under review in the EU. Gazyva/Gazyvaro is presently approved for treating various types of lymphoma.
J&J announced the discontinuation of the phase III VENTURA program on pipeline candidate, aticaprant, for aMDD. The decision to end the program was based on the lack of sufficient efficacy observed in the target patient population. Data from the study showed that aticaprant was safe and well tolerated.
J&J, Novo Nordisk, Roche, AbbVie and Bayer carry a Zacks Rank #3 (Hold) each. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The NYSE ARCA Pharmaceutical Index has risen 2% in the past five trading sessions.
Large Cap Pharmaceuticals Industry 5YR % Return
Here's how the eight major stocks performed in the previous five trading sessions.
Image Source: Zacks Investment Research
In the last five trading sessions, Merck rose the most (3.8%), while Novo Nordisk declined the most (1.3%).
In the past six months, AbbVie rose the most (7.3%), while Novo Nordisk declined the most (33.3%).
(See the last pharma stock roundup here: LLY Ups U.S. Manufacturing Investments & More)
Watch this space for regular pipeline and regulatory updates next week.
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Roche Holding AG (RHHBY) : Free Stock Analysis Report
Johnson & Johnson (JNJ) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Bayer Aktiengesellschaft (BAYRY) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
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You had a steak.' Or, 'I don't drink alcohol, and you had three cocktails.' When someone is having smaller portions or fewer courses, splitting a check can be even more difficult. Hax reminds people 'to be mindful of fairness and not hide behind expediency to get the 'sober dieting vegans' to cover their champagne and lobster.' She also suggests 'reading the room,' which means sometimes you can get separate checks, or take half of your meal home, and sometimes you just overpay, for the pleasure of everyone's company. Post also has some specific strategies, like telling friends you dine with regularly: 'Hey guys, I'm eating a lot less these days. Is it okay if I get my own check?' Or offer to use check-sharing apps like Billr or Divvy so that all diners pay what they owe. When I host, I've started asking guests not only if they have any food allergies or preferences, but also: 'Is there anything else I need to know in preparing dinner?' 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