From Nasdaq.: 2024-11-15 15:00:00

AstraZeneca (AZN) reported strong third-quarter results, beating earnings and sales estimates. The company raised its guidance and announced plans to invest $3.5 billion in the US. Meanwhile, Bayer (BAYRY) saw a decline in Q3 earnings but an increase in sales, driven by new products. AbbVie’s (ABBV) schizophrenia treatment from Cerevel failed in mid-stage studies, while J&J’s (JNJ) nipocalimab received FDA Breakthrough Therapy Designation for Sjögren’s disease. Merck (MRK) acquired rights to a novel cancer therapy from a China-based biotech.

In the pharmaceutical industry, AbbVie saw a decline in sales, while Bayer faced challenges in the Crop Science business. AstraZeneca and Merck announced positive data from a phase III study, while AbbVie’s recent acquisition failed to meet primary endpoints in phase II studies. J&J received FDA Breakthrough Therapy Designation for a key pipeline candidate, and Merck acquired rights to a novel cancer therapy.

In the last five trading sessions, AbbVie’s stock declined the most, while Lilly rose the most. Over the past six months, AbbVie saw the most increase, while Merck saw the most decline. Looking ahead, AstraZeneca, AbbVie, Bayer, Merck, and J&J all have a Zacks Rank #3 (Hold).

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Read more at Nasdaq.: Pharma Stock Roundup: AZN, BAYRY’s Earnings, ABBV’s Pipeline Setback