BioPharma Dive July 26, 2024
Glycomimetics and Cue Biopharma are laying off large chunks of their respective workforces. Elsewhere, Mirati’s former CEO resurfaced at a well-funded startup.
Today, a brief rundown of news from AbbVie and AstraZeneca as well as updates from Glycomimetics, Cue Biopharma and Confo Therapeutics that you may have missed.
AbbVie on Thursday reported second quarter results indicating it is weathering growing biosimilar competition& to its flagship autoimmune disease drug Humira. According to analysts with the investment bank Piper Sandler, the company’s immunology business “beat handily” consensus revenue estimates, as two of its other drugs, Skyrizi and Rinvoq, generated more than $4 billion combined. Humira sales, at about $2.8 billion, also surpassed expectations. “We think investor concerns have subsided,” wrote analyst Christopher...
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