BioMarin’s new CEO inherits a profitable company, a pioneering gene therapy, and a brewing activist challenge

Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox.

Hello, everyone. Damian here with a close look at an en-vogue idea in oncology, an awkward welcome for a new CEO, and a twist on the classic drug pricing backlash.

The need-to-know this morning
• Biogen reported third-quarter adjusted earnings of $4.36 per share on total revenue of $2.53 billion — both metrics higher than the Street’s consensus estimate. Multiple sclerosis product revenue fell 14% year over year, but sales of the rare disease therapy Spinraza rose 4%.
• Last night, Gilead Sciences reported third-quarter adjusted earnings of $2.29 per share on total revenue of $7.05 billion, also topping consensus. Sales of Veklury, Gilead’s treatment for Covid-19, were strong at $636 million, benefiting from a summer surge in cases.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus in-depth analysis, newsletters, premium events, and networking platform access.

Already have an account? Log in

Already have an account? Log in

Individual plans

Group plans

Monthly

$39

Totals $468 per year

$39/month Get Started

Totals $468 per year

Starter

$30

for 3 months, then $39/month

$30 for 3 months Get Started

Then $39/month

Annual

$399

Save 15%

$399/year Get Started

Save 15%

11+ Users

Custom

Savings start at 25%!

Request A Quote Request A Quote

Savings start at 25%!

2-10 Users

$300

Annually per user

$300/year Get Started

$300 Annually per user

View All Plans

Get unlimited access to award-winning journalism and exclusive events.

Subscribe

Log In