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Search resuls for: "Mohit Bansal"


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☆ Wells Fargo downgrades Pfizer, says the stock needs a 'Covid reset' to work again
  + stars: | 2023-01-17 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +2 min
Shares of Pfizer need a reset from the Covid-19 pandemic before they will work again, according to Wells Fargo. "We think PFE needs a COVID reset before the stock could work again," analyst Mohit Bansal wrote in a note. Lower revenue, higher expenses Wells Fargo lowered its 2023-2025 earnings per share estimates on the company due to lower Covid revenues and higher expenses. Even including China demand, Wells Fargo is below consensus on the drug, seeing limited opportunity in the country without national reimbursement. The Covid reset could happen when guidance is provided on the company's fourth-quarter 2022 earnings call, Bansal said.
☆ Eisai, Biogen's new Alzheimer's drug should be priced below Aduhelm - report
  + stars: | 2022-12-23 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Issei KatoDec 23 (Reuters) - An influential drug pricing research group said Eisai Co Ltd (4523.T) and Biogen Inc's (BIIB.O) new Alzheimer's disease treatment lecanemab should be priced lower than the drug Aduhelm that was developed by the companies. Biogen halved the price of its first Alzheimer's drug Aduhelm last year to $28,200 for a person with average weight, amid tepid sales and reimbursement hurdles. Treatment with lecanemab for patients with Alzheimer's appears to be "promising but inconclusive," ICER said. Eisai and Biogen did not immediately respond to requests for comment on the ICER report. Shares of Eisai fell on Friday after a report of a third death in a trial of lecanemab.
☆ Eli Lilly's bleak annual forecast overshadows quarterly beat
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +2 min
The company's shares fell nearly 4% in premarket trading as a forecast cut for the third time this year overshadowed strong performance by its newly approved diabetes drug. The drugmaker also trimmed its full-year revenue forecast, citing a $300 million hit to its revenue from the strong dollar. Lilly now sees revenue in the range of $28.5 billion to $29 billion, below analysts' estimates of $28.76 billion at mid-point. Lilly flagged a total impact of about $1 billion from the strong dollar for the full year. The company posted better-than-expected results for the third quarter, as demand for its recently approved diabetes drug, Mounjaro, helped counter declining sales of its diabetes and cancer treatments.
☆ Pfizer COVID vaccine price hike seen giving revenue boost for years
  + stars: | 2022-10-21 | by ( Michael Erman | ) www.reuters.com   time to read: +2 min
Oct 21 (Reuters) - Pfizer's plan to as much as quadruple current U.S. prices for its COVID-19 vaccines going forward could spur revenue for years, analysts said. Outside the United States, Pfizer said it already has contracts with governments in many developed markets that extend through 2023 with prices that have already been set. Moderna had previously suggested commercial price expectations in a range of $64 to $100 a shot. Wall Street was expecting such price hikes due to weak demand for COVID vaccines, which meant manufacturers would need to hike prices to meet revenue forecasts for 2023 and beyond. Around 19.4 million people in the United States received the updated booster over the first seven weeks of its rollout.
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