Revenue of $487.32M (-5.9% Y/Y) misses by $6.8M.
Wednesday, August 5, 2020
Bristol Myers prevails in Eliquis patent challenge from generic drugmakers
Bristol Myers Squibb (NYSE:BMY) and collaboration partner Pfizer (NYSE:PFE) are up 6% and 2%, respectively, after hours in response to an unconfirmed patent ruling related to blood thinner Eliquis (apixaban).
The court apparently found that generic products from Sigmapharm, Sunshine Lake and Unichem infringe on certain BMY patents.
The decision, if upheld, would be a big win for BMY since the automatic 30-month stay related to the patent challenge expired on June 28. Eliquis is the company’s top seller (before acquiring Celgene) generating $2.6B in sales last quarter (Celgene’s Revlimid generated $2.9B).
Under their April 2007 agreement, BMY and PFE share profits and losses on the product on a 40/60 basis.
bluebird bio EPS beats by $2.16, beats on revenue
bluebird bio (NASDAQ:BLUE): Q2 GAAP EPS of -$0.36 beats by $2.16.
Revenue of $198.89M (+1395.4% Y/Y) beats by $117.82M.
Moscow expands COVID-19 express tests to major airports
Russia is expanding COVID-19 express tests to other major air hubs in Moscow after using them at the country’s busiest airport, Sheremetyevo, in the capital, the Russian Direct Investment Fund said on Wednesday.
The portable testing system, which fits in two small suitcases, gives results within an hour and is already being used by some Russian companies and at major events, the RDIF said.
Moscow announced the resumption of some regular international flights on Aug. 1 to Turkey, Britain and Tanzania, as the coronavirus crisis eases in Russia. The country has also been in talks with other countries to re-launch the flights.
Russia has the world’s fourth-highest number of coronavirus cases at 866,627. It says 14,490 people have died from the virus.
As part of a wider plan to create coronavirus-free airport hubs, RDIF said on Wednesday the express tests would be expanded to other Moscow’s largest airports, Vnukovo International and Moscow Domodedovo.
It said the testing would be available both for arriving and departing passengers. The service will be rolled out at the airports within a week.
Moderna prices COVID-19 vaccine at $32-$37 per dose for smaller volume deals
Moderna Inc (MRNA.O) said on Wednesday smaller volume agreements for its experimental coronavirus vaccine have been priced in the range of $32 to $37 per dose, higher than the price set by the U.S. deal for Pfizer Inc’s (PFE.N) vaccine candidate.
As the race to develop COVID-19 vaccines reach a decisive stage, with several candidates being tested in pivotal late-stage studies, pricing has come under increasing scrutiny.
“We will be responsible on price well below (its) value during the pandemic,” Chief Executive Officer Stéphane Bancel said on a conference call, adding that larger volume agreements for its vaccine will be priced lower.
Last month, the U.S. government struck a deal for an experiment vaccine being developed by Pfizer and partner BioNTech SE (22UAy.F) that secures enough vaccine to inoculate 50 million Americans for about $40 a person. Moderna’s two-dose vaccine regimen would cost between $64 and $74 per person.
Moderna, which has no drugs on the market, has received nearly $1 billion from the U.S. government under a plan to speed up vaccine development. It has not struck a supply agreement with the United States.
The company said on Wednesday it was in talks with several countries for supply agreements for its vaccine, adding that it had already received about $400 million in deposits for eventual supply.
Moderna said enrolment for its late-stage vaccine study that aims to include 30,000 people is on track to be completed in September.
The company’s vaccine candidate is one of the few that have already advanced to the final stage of testing. Effective vaccines are seen as essential to halting a pandemic that has claimed more than 700,000 lives worldwide.
Moderna said last month it plans to price its coronavirus vaccine in a way that ensures broad access and that it did not intend to conduct late-stage trials of the vaccine outside the United States.
India’s Lupin to sell generic COVID-19 drug favipiravir
Lupin Ltd on Wednesday became the latest Indian drugmaker to launch a version of the antiviral drug favipiravir to treat COVID-19 in the world’s third most affected country.
A slew of generic drug manufacturers including Cipla Ltd, Sun Pharma and Hetero Labs have been developing favipiravir after India approved it as an as emergency treatment for mild to moderate COVID-19.
Indian hospitals have suffered a shortage of critical COVID-19 drugs such as remdesivir in recent weeks, but the bottlenecks are expected to ease soon as manufacturers ramp up production.
Favipiravir has shown promise in clinical trials in India and Russia, but faces uncertain prospects in Japan, where it was originally developed by Fujifilm Holdings, after disappointing clinical studies.
Lupin’s version of the drug, called Covihalt, will be priced at 49 rupees (0.50 pounds) per 200 mg-tablet, it said. Sun Pharma on Tuesday launched its own version, at 35 rupees, so far the cheapest in India.
Shares in Lupin, one of India’s top generic drug makers, were little changed in midday trading.
Coronavirus infections in India topped 1.9 million on Wednesday, after rising by more than 50,000 for seven straight days. The country has the world’s third most affected after the United States and Brazil.
ACADIA Pharma EPS beats by $0.18, beats on revenue
ACADIA Pharma (NASDAQ:ACAD): Q2 GAAP EPS of -$0.27 beats by $0.18.
Revenue of $110.1M (+32.3% Y/Y) beats by $6.69M.
Shares +4%.
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