Pharma giants have not had a moment of peace for a while now. Their quarterly estimates have beaten yet another estimate and their stock is soaring.
Some hot picks are
Here's my analysis;
Novartis (NVS): Their sales were up by 10 percent in Q1 2024 to 11.8 billion USD. This is up from $10.8 billion in the same quarter of last year. A FactSet report suggested their total revenue came at 10.4 billion USD
Merck (MRK): Their total revenue is up by 9% YoY to 15.7 billion USD in Q1 2024. Their new cancer drug Keytruda is the primary reason behind their sales being up this year. Keytruda's sales are up 20% in Q1 2024 to 6.9 billion USD which is up from 5.8 billion USD in last year.
AstraZeneca: This UK-based pharma giant made a mockery out of analyst's predictions as its total revenue reached $10.2 billion in Q1 2024, almost a billion dollars over Wall Street's predictions.
Biogen: This Massachusetts-based pharma company reached new heights with the help of its game-changing Alzheimer's drug, Leqembi. Leqembi sales reportedly generated $19 million in Q1 2024 which is three times that of the revenue in Q4 2023. The company's revenue fell by 7% in Q1 2024, leading to its stock dipping 1%.