A few of this yr’s finest performers within the healthcare sector are corporations anticipated to revenue from the anti-obesity drug craze, with Eli Lilly and Novo Nordisk shares each up greater than 40% every. A lot of the remainder of the trade is underwater, with a few of the largest decliners being pandemic winners equivalent to Pfizer and Moderna.
It’s little surprise, then, that buyers have been hoping Pfizer may bounce to the successful camp with an weight problems capsule. However the firm’s silence on its experimental oral medicine, danuglipron, throughout its earnings launch Tuesday, is worrying Wall Road. “Not one point out [of danuglipron] within the ready remarks from Pfizer,” famous Will Sevush, a healthcare strategist for Jefferies. Earlier than as we speak’s earnings, David Risinger, a Leerink Companions analyst, had written that Pfizer would possibly even launch information from its mid-stage examine alongside the earnings outcomes as quickly as Tuesday.
In the course of the name, analysts repeatedly pressed Chief Govt Officer Albert Bourla concerning the medicine, however he urged them to attend, noting the corporate hadn’t seen the information, which is anticipated earlier than year-end. “I do know the curiosity may be very excessive proper now, however I need to be very prudent in not saying issues with out the information,” he stated. TD Cowen analyst Steva Scala famous he wasn’t listening to “confidence-building statements” from administration.
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