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Beta Finch - Pharma & Biotech - EN

Beta Finch - Pharma & Biotech - EN

By: Beta Finch
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Leading pharmaceutical and biotechnology companies. AI-powered earnings call analysis for Pharma & Biotech (PHARMA). Two AI hosts break down quarterly results, key metrics, and market implications in digestible podcast episodes.2026 Beta Finch Economics Personal Finance
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  • Johnson & Johnson Q2 2026 Earnings Analysis

    Johnson & Johnson Q2 2026 Earnings Analysis
    Jul 15 2026
    More earnings analysis: https://betafinch.com
    Groups: PHARMA (https://betafinch.com/groups/PHARMA), INCOME (https://betafinch.com/groups/INCOME)
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    ALEX: Welcome to Beta Finch, your AI-powered earnings breakdown. Today we're digging into Johnson & Johnson's second quarter 2026 results, and Jordan, there's a lot to unpack here.

    JORDAN: There really is. But first, the fine print — this podcast is AI-generated content for educational and entertainment purposes only. Nothing we discuss should be considered investment advice. Always do your own research and consult a qualified financial advisor before making any investment decisions.

    ALEX: Right, so let's get into it. J&J posted $25.3 billion in quarterly sales, up 5.6% operationally. That doesn't sound huge until you realize they absorbed a 460 basis point headwind from STELARA losing patent protection to biosimilars.

    JORDAN: Yeah, strip out STELARA and the rest of the business grew double digits. That's the real story. Net earnings came in at $5.5 billion, diluted EPS of $2.27, and on an adjusted basis, EPS was $2.90, up nearly 5% year-over-year. And here's the kicker — they raised full-year guidance. Operational sales growth now expected at 6.5% to 7.1%, and adjusted EPS guidance moved up to $11.50-$11.65.

    ALEX: They're also closing in on a milestone — more than $100 billion in annual revenue for the first time in the company's 140-year history.

    JORDAN: Which is wild to say out loud. This is a company with 28 different products or platforms each doing over a billion dollars a year. That's not a one-hit-wonder portfolio, that's just breadth everywhere.

    ALEX: Let's talk oncology, because that's really where J&J flexed this quarter. DARZALEX, their multiple myeloma drug, did over $4 billion, up almost 18%. But the newer combo therapies are what caught my eye — CARVYKTI up 47.7%, TECVAYLI up 56%, TALVEY up 62.6%.

    JORDAN: Those growth rates on top of an already-dominant multiple myeloma franchise are pretty remarkable. And they're not resting — new data showed the TALVEY-DARZALEX combo keeping over 80% of patients progression-free at two years, with overall survival up to 89%. That's the kind of data that extends a franchise's life for years.

    ALEX: Then there's the newer launches — ICOTYDE in psoriasis, INLEXZO in bladder cancer, RYBREVANT in lung and now head-and-neck cancer. ICOTYDE in particular is getting a lot of attention. Over 11,000 patients started therapy, 6,000 unique prescribers, and more than half of commercial payers already covering it within 90 days.

    JORDAN: What's interesting is how they're positioning it alongside TREMFYA, which by the way had a monster quarter — 71% growth, its first $2 billion quarter. Instead of cannibalizing each other, management's framing ICOTYDE as the go-to first systemic treatment and TREMFYA as the first-choice biologic, especially for patients trending toward psoriatic arthritis. It's a two-pronged attack on the same disease area.

    ALEX: Now, MedTech was the softer spot this quarter — only 3.6% growth. Cardiovascular was the drag, mainly Abiomed's heart pump business.

    JORDAN: Right, and this is worth unpacking because it wasn't a demand problem. A neutral clinical trial out of the U.K. made physicians more cautious about patient selection for Impella devices, so usage slowed. Management was pretty direct about it — they called it a "behavioral" issue, not structural. They're leaning on their own much larger evidence base, over 40,000 patients studied versus the UK trial's 300, while they wait for their own PROTECT IV trial data, which won't read out until 2027.

    ALEX: Meanwhile, three of MedTech's four businesses — surgery, vision, and orthopedics — actually accelerated and beat expectations. So it's really one segment, heart recovery, dragging on an otherwise solid MedTech story.

    JORDAN: And there's real excitement building around the robotics pipeline — the OTTAVA surgical robot and MONARCH for urology are both awaiti

    This episode includes AI-generated content.
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    7 mins
  • Gilead Sciences Q1 2026 Earnings Analysis

    Gilead Sciences Q1 2026 Earnings Analysis
    May 8 2026
    More earnings analysis: https://betafinch.com
    Groups: PHARMA (https://betafinch.com/groups/PHARMA)
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    **Beta Finch Podcast Script - Gilead Q1 2026 Earnings**

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    **ALEX:** Welcome to Beta Finch, your AI-powered earnings breakdown! I'm Alex, and I'm joined as always by my co-host Jordan. Today we're diving into Gilead Sciences' first quarter 2026 results - and wow, what a quarter this was for the biotech giant.

    Before we jump in, I need to mention that this podcast is AI-generated content for educational and entertainment purposes only. Nothing we discuss should be considered investment advice. Always do your own research and consult a qualified financial advisor before making any investment decisions.

    Jordan, Gilead came out swinging with some pretty impressive numbers, didn't they?

    **JORDAN:** Absolutely, Alex! Let's start with the headline numbers because they're quite strong. Total product sales hit $6.9 billion, up 5% year-over-year. But here's the kicker - if you exclude their COVID drug Veklury, their base business grew 8% to $6.8 billion. That's solid growth for a company Gilead's size.

    **ALEX:** And they're not just talking the talk - they're raising guidance across the board. What stood out to you most about their updated outlook?

    **JORDAN:** The HIV business is absolutely on fire. They raised their HIV growth expectations from 6% to 8% for the full year, and get this - their PrEP drug Yes2Go, which prevents HIV, is now expected to hit $1 billion in sales. That would make it a blockbuster drug in just its first full year on the market!

    **ALEX:** That's remarkable. Let's break down what's driving this HIV success, because it seems like Gilead is firing on all cylinders here.

    **JORDAN:** It really is a multi-pronged success story. Their flagship HIV treatment Biktarvy continues to dominate with over 52% market share in the U.S. - that's a drug pulling in $3.4 billion in the quarter alone. But the real star is Yes2Go, their twice-yearly injectable HIV prevention drug. Sales jumped 72% just from the previous quarter to $166 million.

    **ALEX:** And during the Q&A, management seemed pretty confident about Yes2Go's trajectory. What are they seeing that makes them so optimistic?

    **JORDAN:** Great question! Johanna Mercier, their commercial chief, mentioned some really encouraging metrics. They now have 95% insurance coverage with 95% of those having zero copay for patients. They're seeing strong uptake from both people switching from other drugs and completely new users. And perhaps most importantly, the "persistency" - meaning people coming back for their second injection - is looking really good.

    **ALEX:** Now, Gilead wasn't just focused on HIV this quarter. They made some major acquisition moves. Can you walk us through what they're buying and why?

    **JORDAN:** This is where it gets really interesting from a strategic perspective. They closed three major deals: Arcellx for their cancer cell therapy anitocel, they're buying Tubulis for their antibody-drug conjugate technology, and Oral Medicines for autoimmune treatments. The total upfront cost? About $11.5 billion.

    **ALEX:** That's a lot of cash! How are investors supposed to think about these deals?

    **JORDAN:** Well, it's definitely impacting their near-term earnings - they're actually projecting a loss per share for 2026 because of these upfront costs. But management seemed confident these are strategic investments for the long term. The Arcellx deal brings them anitocel, which they believe could be best-in-class for multiple myeloma. And Tubulis gives them next-generation cancer drug technology that goes beyond their current Trodelvy franchise.

    **ALEX:** Speaking of Trodelvy, how's their existing oncology business performing?

    **JORDAN:** Trodelvy is growing nicely - up 37% year-over-year to $402 million. They're expecting regulatory decisions this year that could expand its use to first-line breast cancer treatment, which would be a significant ma

    This episode includes AI-generated content.
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    9 mins
  • Zoetis Q1 2026 Earnings Analysis

    Zoetis Q1 2026 Earnings Analysis
    May 7 2026
    More earnings analysis: https://betafinch.com
    Groups: PHARMA (https://betafinch.com/groups/PHARMA)
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    # Beta Finch Podcast Script: Zoetis Q1 2026 Earnings

    **ALEX:** Welcome to Beta Finch, your AI-powered earnings breakdown where we dive deep into quarterly results to help you understand what's really happening in the market. I'm Alex.

    **JORDAN:** And I'm Jordan. Before we dig in, this podcast is AI-generated content for educational and entertainment purposes only. Nothing we discuss should be considered investment advice. Always do your own research and consult a qualified financial advisor before making any investment decisions.

    **ALEX:** Today we're breaking down Zoetis' Q1 2026 earnings - and wow, this was a quarter that really caught investors off guard. Jordan, what's your first take on these numbers?

    **JORDAN:** Alex, this was definitely a reality check for the animal health giant. On the surface, flat organic operational revenue growth doesn't look terrible, but when you peel back the layers, there's a lot more going on here. They had about $100 million in sales that shifted from Q4 2025 into Q1 due to fiscal year alignment changes. Without that boost, they would have seen a 5% organic operational decline.

    **ALEX:** That's a significant difference. And CEO Kristin Peck was pretty candid about what went wrong, wasn't she?

    **JORDAN:** Absolutely. She laid out four key factors that created what she called "a convergence of interconnected dynamics." First, rising prices at veterinary clinics led to lower clinic traffic - pet owners are feeling the pinch. Second, those same pet owners are showing increased price sensitivity, especially for premium products where Zoetis leads. Third, competition intensified across key categories like dermatology and parasiticides, with competitors using aggressive pricing. And fourth - this is crucial - these competitive launches didn't expand the overall market like they have historically.

    **ALEX:** That last point seems really important. Historically, when new competitors entered Zoetis markets, the pie got bigger for everyone. But not this time?

    **JORDAN:** Exactly. In the past, competition actually helped grow markets - think about how the parasiticide market expanded when new players came in. But this time, with pet owners being more price-conscious and visiting clinics less frequently, new entrants are just taking share from existing players rather than bringing new customers into the market.

    **ALEX:** Let's talk specific numbers. How did their key franchises perform?

    **JORDAN:** The companion animal business really struggled, particularly in the U.S. where it declined 11%. Their key dermatology franchise - which includes blockbusters like Apoquel and Cytopoint - fell 11% globally to $347 million. The Simparica parasiticide franchise was down 1% to $385 million globally, but that masks an 8% decline in the U.S. And their OA Pain products, Librela and Solensia, dropped 8% combined to $140 million.

    **ALEX:** But it wasn't all bad news, right? I noticed livestock performed well.

    **JORDAN:** That's the silver lining here. Livestock delivered 12% organic operational growth to $720 million, with broad-based strength across cattle, poultry, and swine. Favorable producer economics and strong protein demand are driving investment in herd health. It really shows the value of Zoetis' diversified portfolio - when companion animal struggles, livestock can pick up some slack.

    **ALEX:** What about guidance? I imagine they had to adjust expectations.

    **JORDAN:** They definitely had to recalibrate. Full-year revenue growth guidance came down to 2-5% from what was presumably higher expectations, and adjusted net income growth is now expected at 2-6%. CFO Wetteny Joseph noted that while the fiscal year alignment was supposed to provide a 200-250 basis point tailwind, the challenging operating environment more than offset that benefit.

    **ALEX:** During the Q&A, there were some pointe

    This episode includes AI-generated content.
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    8 mins
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