Regeneron Pharmaceuticals (NASDAQ: REGN), Vertex Pharmaceuticals (NASDAQ: VRTX), and Biogen (NASDAQ: BIIB) are developing remarkable therapies that, instead of merely treating disorders, have the potential to cure them or at least make an impact that no other drug has to date. The reason that's not a big cause for alarm is that the company's second-quarter revenue of $2.86 billion would be up 20% over the same period in 2021 if its COVID-19 therapy, REGEN-COV, was excluded from total revenue. The company's sales of the treatment ended late last year when government contracts for the therapy ended.
Eli Lilly (NYSE: LLY) was already having a great year in the stock market, but on Sept. 28, the company's shares jumped by about 7%. The move happened after biotech giant Biogen and its partner Esai reported positive top-line results from a phase 3 clinical trial for an Alzheimer's disease (AD) therapy candidate, lecanemab. Eli Lilly is working on its own AD treatment, donanemab, and the market counted Biogen's win as Eli Lilly's too.
AbbVie's (ABBV) new drugs, Skyrizi and Rinvoq, are faring well, bolstered by approval in new indications. They are expected to drive revenues once Humira loses U.S. exclusivity in 2023.