(AOF) – Coherus Biosciences is expected to fall sharply in pre-market trading on Wall Street after the presentation of its results. The oncology biotech company posted a net loss per diluted adjusted share reduced to $0.32, compared to $0.75 per share a year ago, but investors were expecting $0.24. The turnover increased to 77 million dollars against 32.42 million a year ago, but the consensus was at 80.25 million. The biotech owes most of its turnover to its product Udenyca: $42.7 million, up 63% over one year.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.