Johnson & Johnson was one of the notable exceptions, lowering its forecast for 2020 sales revenue, mostly due to the pandemic’s effects on its device business.
Unlike medical devicemakers — many of which either suspended or withdrew their 2020 financial guidance due to a lack of elective surgeries — drugmakers have so far been minimally affected financially by the COVID-19 pandemic.
Drugmakers with products that are mostly administered in hospitals saw bigger sales losses than those with products used outside hospitals, S&P global found. Drugmakers that sell pills instead of injections also fared better.
The top 15 drugmakers and the changes made to their 2020 sales revenue guidance:
- Johnson & Johnson — Lowered
- Roche — No change
- Pfizer — No change
- Novartis — No change
- Merck — Lowered
- Novo Nordisk — No change
- Eli Lilly — No change
- AstraZeneca — No change
- Bristol Myers Squibb — No change
- Amgen — No change
- AbbVie — No change
- Sanofi — No change
- GlaxoSmithKline — No change
- Gilead Sciences — No change
- Vertex Pharmaceuticals — Raised
More articles on pharmacy:
Trump inks deal to create the nation’s first strategic stockpile of COVID-19 drugs
Gilead to donate 300,000 more remdesivir doses to US hospitals
Moncef Slaoui resigns from Moderna board, divests $10M in stock
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
