Both of the first two companies to report second-quarter financials maintained full-year sales guidance. But while Johnson & Johnson’s investors seemed cheered, Novartis’s may have been concerned about familiar issues.

When loss-making biotech companies mix debt with sluggish sales, difficult options like restructuring and asset sales remain.

Three new vaccines to prevent RSV infections in seniors and sales trends in pediatric vaccines highlight a shift away from childhood vaccines and a possible age-related immunity deficit.

Presenting at conferences allows companies to showcase data on new drugs and secure licensing partners, as well as further investment by shareholders. But two presentations at the recent EHA conference had the opposite effect.

When life hands a biotech company the equivalent of good grapes, the expectations are for its products to be the equivalent of fine wine. Before that Moderna looks likely to make lemonade.

Clinical trial results that readily excite stock market investors are subject to more stringent analysis by big pharma deal-hunters, despite their urgent need for pipeline renewal.