Shingles Vaccine Lifts Glaxo’s Third-Quarter Earnings Forecast
GlaxoSmithKline reports that demand for Shingrix -- the drugmaker's new shingles vaccine that was granted favored status by the Centers for Disease Control and Prevention last year -- is driving healthy profits.
The Wall Street Journal:
Glaxo’s Shingles Vaccine Gave Earnings A Shot In The Arm
Demand for Shingrix, which is aimed at people age 50 and over, has outpaced Glaxo’s expectations since it launched the vaccine late last year. The company says it now expects sales of £700 million to £750 million ($893 million to $957 million) this year, up from previous guidance of £600 million to £650 million. The vaccine protects against shingles, a disease that leads to a painful rash and that is caused by the reactivation of the chicken pox virus in people whose immune systems have weakened with age. Shingrix got a boost when the U.S. Centers for Disease Control and Prevention last year gave the vaccine favored status over a rival, Merck & Co’s Zostavax. The CDC also recommended that adults who had previously received Zostavax should still receive Shingrix. (Roland, 10/31)
Reuters:
GSK Feels Shingles Vaccine Boost, But Shares Slip On Drugs Mix
GlaxoSmithKline’s third-quarter earnings were lifted by demand for its new shingles vaccine on Wednesday, but the British drugs firm’s shares slipped despite an improved outlook as analysts focused on some drugs missing forecasts. (Sandle, 10/31)
In other pharmaceutical and biotech news —
Reuters:
Vaccines And Genzyme Help Sanofi Keep Promise Of Return To Growth
Sanofi lifted its 2018 profit target for the second time this year after robust sales of its vaccines and rare diseases division, Genzyme, helped it beat third-quarter profit expectations. (Blamont, 10/31)
Boston Globe:
Cambridge Biotech Tango Signs $50m Deal With Drug Giant Gilead
Tango Therapeutics Inc. has cut its first major business deal since debuting last year, a collaboration with the big California drug maker Gilead Sciences Inc. that will pay the Cambridge biotech $50 million up front. Tango, a privately held firm developing a new generation of targeted cancer therapies using the latest advances in DNA sequencing, will work with Gilead to identify new immunotherapy targets. (Saltzman, 10/31)
The Wall Street Journal:
Biotechs With No Drugs In Trial Are Raising Millions In IPOs
Biotech IPOs are on track for a near-record year, with a crop of offerings that are younger, more highly valued—and some say riskier—than any in recent memory. Driven by swift advances in medical science and an accommodative Food and Drug Administration that is increasingly willing to accelerate approval of innovative drugs, biotechnology companies are tapping the public markets at very early stages of development—some even before they have a drug in a clinical trial. (Walker, 10/31)
