Zolgensma’s impressive early sales figures spur hopes that gene therapy could finally be coming of age.
A strong second quarter pushed Novartis’s stock up 5% this morning, but Kymriah continues to look weak, and the jury is still out on Zolgensma.
On sales per employee Abbvie and Bristol-Myers Squibb lead the big pharma pack, while Sanofi and Astrazeneca are the sector laggards.
Alder hopes soon to launch its migraine drug eptinezumab, and will nervously have been watching the first full quarter’s sales of three similarly acting drugs.
Over the past decade Roche and Novartis consistently spent more on R&D than other big pharma groups, while Abbvie and Astrazeneca have added to their budgets.
Alnylam appears to have turned its Onpattro launch around, but is adamant that investors should have been more patient all along.
The takeovers of Loxo and Celgene put M&A back on the agenda, and positive clinical readouts from Sage and Axsome add to the celebratory mood.
If big biotech cannot deliver innovation investors might start demanding shareholder payout plans that look more like big pharma's.
Disappointing second-quarter sales of Novo Nordisk's GLP-1 agonists, Victoza and its successor Ozempic, raise questions.