Pharma and Biotech Daily: Merck, Novo, Amgen, AbbVie, FDA Updates, and More!

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world. Merck exceeded Q3 expectations but adjusted its 2024 guidance downwards due to underwhelming revenues from Gardasil and Januvia. Novo is making progress in resolving shortages of Ozempic and Wegovy. Amgen is gearing up for the release of obesity data for Maritide. AbbVie surpassed Q3 estimates thanks to Skyrizi and Rinvoq, despite Humira falling short. The FDA announced full availability of Novo's Ozempic and Wegovy after previous shortages. Compass has postponed pivotal trial results for psilocybin and reduced staff by 30%. Novartis secured first-line approval for Scemblix in specific CML patients. Pfizer's Q3 earnings were robust, with numerous deals being made as the election approaches. Smaller funds are starting to invest in early-stage science as larger VCs raise billions.