J&J beats first-quarter profit estimates on cancer drugs strength [Yahoo! Finance]
Alvotech (ALVO)
Company Research
Source: Yahoo! Finance
Sales of its blockbuster psoriasis drug Stelara were flat at $2.45 billion in the first quarter, while sales of Darzalex jumped about 19% to $2.69 billion. Darzalex, a blood cancer therapy launched in 2015, is expected to bring in sales of more than $11 billion for J&J this year, according to analysts. J&J has struck deals to delay U.S. launches of close-copy versions of Stelara until 2025, a key patent for which expired last year. Analysts have said the delayed competition will make the drug a larger contributor for J&J's 2024 and 2025 revenue than previously anticipated. Stelara biosimilars are expected to launch elsewhere later this year. J&J reached an agreement with Alvotech in February to launch its close-copy in Japan, Canada and Europe this year. The Luxembourg-based drugmaker can enter the Canadian market in the first quarter of this year and Japan in May. On an adjusted basis, J&J earned $2.71 per share in the first quarter, compared to analysts' estimates of $2.64,
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ALVO
Sec Filings
- 4/30/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/19/24 - Form 6-K
- ALVO's page on the SEC website