Several companies have adjusted their earnings-per-share forecasts for the year from what they had issued when they announced fourth-quarter 2019 earnings or expect to see negative impacts on sales of certain drug products, while others reaffirmed guidances.
Two weeks ago, as the season for public companies to release their first-quarter earnings was kicking off, MedCity News reported that the Covid-19 pandemic’s effects on drugmakers’ financial fortunes would depend on their product mixes. For example, companies with a lot of self-administered drugs that were well-established in the market would likely fare better than those with a lot of newly launched products administered in physician offices, while telemedicine would help to offset the impact of fewer physician office visits.
Now, as most of the big drug companies have announced their earnings, a clearer picture of how the pandemic could affect some large pharmaceutical and biotechnology companies is emerging.
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Source: Medcity News
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