US drugmaker earnings heat up this week with spotlight on vaccine news | Malay Mail

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NEW YORK, July 28 — Several major US 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. The earnings reports, including from...

Tuesday, 28 Jul 2020 08:24 AM MYT

The earnings reports, including from Gilead Sciences Inc — maker of one of the only treatments that has shown a benefit for hospitalised Covid-19 patients — will be closely watched for any developments that could help contain the pandemic, which has claimed some 650,000 lives worldwide and upended economies.

Wall Street also will be looking for any signs of weakness in the companies’ big-selling products as the virus runs rampant in many US states, which may stop patients with other conditions from going to hospitals or doctors due to infection fears, as was seen earlier in the US outbreak. “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 US trial.

 

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