AbbVie may have just struck a deal with Shire in order to diversify beyond its top drug, Humira. But that doesn't mean the drug isn't steamrolling.
Varian Medical Systems closed out a winning streak, while AngioDynamics deepened its losses when each company reported earnings for the second quarter.
Eli Lilly's animal health business, Elanco, provides a bit of a bright spot in an otherwise weak earning report for its second quarter, with sales globally up more than 10%, while revenues across the entire company were up just 1%.
Bristol-Myers Squibb's melanoma drug Yervoy and clot-fighter Eliquis helped boost its earnings past analyst forecasts, with $333 million in profits on $3.9 billion in revenue.
Blame a strong Swiss franc on any falling sales and profits Roche put up in the first half of 2014, the company said Thursday. The Swiss pharma's cancer drugs certainly didn't cause the decline, with newcomers Perjeta and Kadcyla helping power the group with especially noteworthy revenue gains.
Intuitve Surgical had to defend its robotic surgery platform again, this time from a study which reports that insurance claims data shows that bladder cancer patients had a similar complication rate and length of hospital stay regardless of whether their bladder was removed robotically or in a more invasive open procedure.
Protecting patients from unnecessary exposure to radiation is the aim of start-up Augmenix. To advance its efforts and achieve profitability, the company has raised a $10.8 million Series D round. It also disclosed that an option, which Varian Medical Systems ($VAR) had gained to acquire the company under a 2011 financing, has expired.
Zimmer Holdings charted sizable sales gains for the second quarter with adjusted net earnings growing 4.6% from the prior year's period, but lowered its full-year estimates due to manufacturing expenses and costs associated with its pending Biomet merger.
Boston Scientific thinks it will benefit from recent less-than-favorable studies of competitor devices. The company is trotting out data for a bioresorbable stent from Abbott and transvenous leads in some St. Jude Medical products that highlight the advantages of its own offerings.
Eli Lilly said 2014 would be an extraordinarily challenging year, and judging from its second-quarter earnings, that prediction wasn't wrong. Lilly's revenue dropped 17% to $4.9 billion in the second quarter, largely because the company lost its patent protection on two of its biggest blockbusters: the anti-depressant Cymbalta, which once brought in nearly $5 billion in sales annually, and osteoporosis drug Evista, previously a $1-billion-a-year hit.