Earnings Roundup: Specialty/Smaller Biopharmas See Modest Hit From Pandemic

07 May 2020

First quarter financials and COVID-19 impacts from Bausch, Neurocrine, Theravance, Ironwood, Rigel.

Business report — Smaller companies reported some similar Q1 pandemic impacts as their larger peers

A host of specialty firms and smaller biopharmas reported their first quarter 2020 financials this week, with modest negative impact from the novel coronavirus pandemic a common refrain. Like Baxter International Inc. and Insmed Inc. earlier in the year, Ironwood Pharmaceuticals Inc. decided to suspend its 2020 financial guidance due to the unpredictability of the ongoing impacts from COVID-19, but several companies mirrored their big pharma peers by reporting small gains due to the pandemic during the quarter.

Bausch Health Companies Inc. reported first quarter revenue of $2.01bn, flat from one year earlier, but it saw growth...