Several major U.S. drugmakers will report second-quarter results this week, with investors eager for fresh details from Pfizer Inc , Merck & Co and others on their efforts to develop vaccines and therapies against the novel coronavirus.
Earnings reports are also due from British drugmakers GlaxoSmithKline Plc and AstraZeneca Plc and France's Sanofi , which are working on vaccines in various stages of development. "We are expecting a fairly solid set of results with most core products either not impacted by COVID-19 or recovering faster than expected," JP Morgan analysts said in note.
Gilead's antiviral treatment, remdesivir, has become a key weapon for many countries after the intravenously administered medicine helped shorten hospital recovery times in a U.S. trial.