Health & pharmaceuticals news
- Mediclinic's net full-year loss climbs to £315 million versus £151 million last year.
- The hospital operator posts a 5% growth in full-year revenue to £3.08 billion.
- The British company writes down its equity investment in Spire by £10 million.
Features & analysis
Latest Health & pharmaceuticals news
AstraZeneca (LON: AZN) is collaborating with the University of Oxford to develop its COVID-19 vaccine. In a statement on Thursday, the company said that results of its clinical trial (early stage) are expected presently. Upon successful testing, the drug manufacturer said, it will commit to supplying at least 1 billion doses in 2020 and 2021. The announcement also highlighted the British pharmaceutical company to have signed the 1st agreeme...
British pharmaceutical company, AstraZeneca (LON: AZN) collaborated with the U.S-based Merck & Co. (NYSE: MRK) on Lynparza drug as a treatment option for prostate cancer. On Wednesday, the two companies gave a joint statement that Lynparza received approval from the United States Food and Drug Administration (FDA). According to the FDA, Lynparza is now authorised to be used to treat a form of prostate cancer that is known to not respond to th...
Shares of Moderna, Inc. (NASDAQ: MRNA) soared more than 30% Monday morning after the company announced encouraging interim clinical data of its vaccine candidate against the coronavirus plaguing the world. The study details Moderna’s coronavirus vaccine succeeded in producing COVID-19 antibodies in each of the 45 participants, the company said. Those who received a 100 mcg dose experienced antibodies levels that “significantly exceeded levels” ob...
Aurora Cannabis (TSE: ACB) said on Thursday that its loss contracted in the third quarter as compared to Q2 as consumers in Canada and the United States stockpiled cannabis before the start of the Coronavirus lockdown. Following the announcement, shares of the company were reported 13% up in the stock market in after-hours trading on Thursday. Analyst Owen Bennett of Jefferies currently has a “hold” rating on Aurora Cannabis’ stock. At the time o...
In a report on Thursday, 3M Co. (NYSE: MMM) said that its sales in April were noted 11% down to £1.88 billion as the Coronavirus pandemic pushed its factories into a temporary shutdown. While COVID-19 fuelled demand for face masks, the company added, it weighed on the rest of its product line that includes items like industrial glues. 3M fell roughly 2.5% in the stock market on Thursday in the morning session but recovered almost all of the loss...
SmileDirectClub (NASDAQ: SDC) reported a broader quarterly loss on Wednesday than what the experts had forecast. The company said that the Coronavirus pandemic pushed it into closing the majority of its global SmileShops. Going forward, SmileDirectClub added, it will focus on its business for dental impression kits. The Nashville-headquartered company was reported 3.5% down in after-hours trading on Wednesday. SmileDirectClub’s performance...
Cardinal Health Inc. (NYSE: CAH) announced its third-quarter earnings report on Monday. Topping analysts’ estimates for earnings and revenue, the company was reported 7.7% up in premarket trading on Monday. The health services company reported a net income of £285 million in the third quarter that translates to 97 pence of earnings per share. In the same quarter last year, the company had recorded £241 million in net income or 80.5 pence of earni...
Siemens AG (ETR: SIE) said on Friday that its industrial profit came in 18% lower in the second quarter. The company also withdrew its previous full-year guidance for 2020 and warned that the impact of the Coronavirus pandemic on its performance is expected to be more pronounced in the third quarter. Originally, Siemens had estimated moderate growth in its full-year revenue this year. Following the Q2 earnings report, however, the company revised...
Peloton Inc. (NASDAQ: PTON) released its quarterly earnings report on Wednesday that posted a massive 66% year over year increase in its revenue in the fiscal third quarter. The company said that its live classes and fitness equipment were greatly in demand as the Coronavirus pandemic restricted people to their homes. The upbeat Q3 results also encouraged the company to upgrade its full-year sales guidance. As per CEO John Foley, the health crisi...
CVS Health (NYSE: CVS) released its quarterly financial results on Wednesday that topped analysts’ estimates for earnings and revenue. The company attributed its upbeat performance to customers stockpiling prescription drugs and related essentials ahead of the Coronavirus lockdown. CVS, however, warned that the pandemic has fuelled a significant decline in foot traffic and weighed on the number of new prescriptions due to fewer doctor’s appointme...
DuPont Inc. (NYSE: DD) swung to a loss of £495 million in the first quarter that translates to 66.6 pence per share. In the comparable quarter last year, the company had recorded £418.50 million in profit. In its report on Tuesday, the company also cited the Coronavirus uncertainty as it announced a roughly £400 million cut on capital expenditures this year. As per the announcement, DuPont has upgraded its annual target for cost-savings in 2020....
Tenet Healthcare (NYSE: THC) released its quarterly financial results on Monday that posted stronger than expected profit in Q1 that the company attributed to a tax benefit associated with the COVID-19 bill. In the second quarter, however, the company said that the Coronavirus driven financial hit is likely to be more pronounced. The investor-owned company said that patients delayed elective care amidst the outbreak due to the nationwide lockdown...
In a statement on Friday, President Donald Trump announced that Gilead’s (NASDAQ: GILD) Remdesivir drug has been approved for emergency use in Coronavirus patients by the Food and Drug Administration (FDA). The U.S president announced the emergency use authorization (EUA) with CEO Daniel O’Day of Gilead Sciences in the Oval Office. The CEO also commented on Friday’s news and stated: “We want to thank the collaborators that brought Remdesivir to t...
The Clorox Company (NYSE: CLX) released its earnings report for the fiscal third quarter on Friday that showed a 15% increase in its sales. The company attributed the jump in sales to its cleaning products that were greatly in demand due to the Coronavirus pandemic. Clorox also upgraded its financial guidance for 2020 on Friday. The company was reported around 3.6% up in premarket trading. Clorox’s Q1 financial results versus analysts’ estimates...
Amgen Inc. (NASDAQ: AMGN) reported stronger than expected financial results on Thursday that initially pushed share prices up roughly 2% in after-hours trading but the stock settled around 0.5% lower than the price at which it closed the regular session. Amgen also announced on Thursday that it plans on testing Otezla (psoriasis drug) as a potential treatment for the novel respiratory disease that Coronavirus causes. Amgen acquired Otezla from Ce...
In its statement on Wednesday, General Electric (NYSE: GE) cited Coronavirus pandemic as it announced its revenue to have dropped significantly in the first quarter. At £16.50 billion, the company’s net quarterly revenue came in 8% lower as compared to the same quarter last year. GE made 4 pence of adjusted earnings per share in the recent quarter that fell short of the experts’ forecast of 6.44 pence per share. The company also highlighted its c...
Merck & Co. (NYSE: MRK) posted stronger than expected profit in the first quarter on Tuesday. The company attributed the success to solid demand for its world-renowned cancer drug, Keytruda. Owing to the Coronavirus uncertainty, however, Merck said that its sales are likely to remain under pressure in the upcoming quarters. Merck said that drugs that its physician-administered drugs including Keytruda contribute around 66% to its total revenu...