Latest news with #drugDevelopment
Reuters
28-05-2025
- Business
- Reuters
Life sciences firm Agilent beats quarterly estimates on instrument demand
May 28 (Reuters) - Agilent Technologies (A.N), opens new tab beat Wall Street estimates for second-quarter profit and revenue on Wednesday, helped by strong demand for its tools and equipment used in drug development, sending its shares up 5.1% in extended trading. The company also raised its annual revenue forecast to be between $6.73 billion and $6.81 billion, compared to its prior expectations of $6.68 billion to $6.76 billion. It maintained its fiscal 2025 adjusted profit forecast at $5.54 to $5.61 per share. Life sciences firms like Agilent have seen weak order levels in the past two years due to reduced spending from biotech clients, and investors have expressed concerns that the difficulties, initially expected to ease this year, may persist due to policy uncertainties from the Trump administration. "The Agilent team delivered strong second-quarter results in a highly dynamic market environment,' said President and CEO Padraig McDonnell. Agilent, which was spun off from pre-split Hewlett-Packard in 2000, reported second-quarter sales of $1.67 billion, above the analysts' estimate of $1.63 billion, according to data compiled by LSEG. Sales in its life sciences and diagnostics segment were at $654 million, beating the estimate of $639.4 million, while revenue from its CrossLab unit, which offers products and services for laboratory management, came in at $713 million, above the estimate of $645.1 million. On an adjusted basis, the California-based company reported a profit of $1.31 per share, beating the estimate of $1.26 per share.
Bloomberg
28-05-2025
- Business
- Bloomberg
GSK Stops Antibiotic Trial Early After Seeing Positive Results
GSK Plc halted a trial following positive results for an oral antibiotic to treat complicated urinary tract infections that could replace an intravenous medicine that is typically used. The antibiotic called tebipenem HBr, which is being developed by GSK and Spero Therapeutics, worked as well as an intravenous antibiotic in the late stage trial, the company said Wednesday. GSK plans to file for US approval later this year and will submit the full results to an upcoming scientific congress.
