Streptococcus pneumoniae type 33F capsular polysaccharide diphtheria CRM197 protein conjugate antigen

Global equities rebounded in 3Q24, with health care stocks advancing in July and August, then falling in September. Biotechnology stocks led the sector, driven by factors like interest in innovative weight-loss drugs, easing supply constraints, increased health care utilization, and the sector's defensive nature. Key contributors included Applied Therapeutics, ARS Pharmaceuticals, and Revance Therapeutics. The fund's performance was aided by favorable stock selection, particularly in biotechnology, while detractors included HilleVax and Guardant Health. The outlook remains positive for biotechnology, supported by strong fundamentals, innovation, and M&A activity, despite risks from inflation and the IRA drug pricing measures.

Big Pharma companies like Pfizer, Johnson & Johnson, Biogen, and Novartis are focusing on new products to drive future growth amid patent cliffs and market challenges. Pfizer's Prevnar 20 holds strong market share despite competition, while J&J's Tremfya gains traction as Stelara faces biosimilar competition. Biogen's Leqembi struggles with uptake due to infrastructure challenges, and Novartis relies on new oncology drugs to offset patent expirations and price negotiations.

Pfizer reports Q3 2024 revenue of $17.7B, up 32% YoY, driven by strong growth across its portfolio. The company raises full-year 2024 revenue guidance to $61-64B and adjusted diluted EPS guidance to $2.75-2.95. Pfizer is on track to deliver at least $5.5B in net cost savings from cost reduction initiatives, with $4B anticipated by end of 2024. The company delivered strong performance in its Oncology products and met heightened demand for Paxlovid during a recent COVID-19 wave. Pfizer's non-COVID product revenues grew 14% operationally in Q3 2024, reflecting continued focus on commercial execution.

Pharmacists must stay updated on vaccine recommendations as COVID-19, influenza, RSV, and other viruses circulate. COVID-19 vaccines for 2024-2025 include mRNA from Moderna, Pfizer, and Novavax. ACIP recommends 1 dose for those 5 years and older, with additional doses for high-risk groups. Influenza vaccines have a new trivalent formulation, and RSV vaccination is crucial for older adults. Pneumococcal vaccination age has been lowered to 50, with new vaccines targeting prevalent serotypes.

Roche reported strong Q3 and nine-month results, with sales up 9% at constant exchange rates. Sanofi is in exclusive talks with CD&R to sell a controlling stake in its consumer healthcare business, Opella. The FDA approved Pfizer’s RSV vaccine, Abrysvo, for adults under 60. Novo Nordisk’s cardiovascular outcomes study on oral semaglutide met its primary endpoint, and AstraZeneca’s Wainzua received a positive CHMP recommendation for EU approval.

The CDC's ACIP voted to lower the recommended age for pneumococcal disease vaccination from 65 to 50, recommending Prevnar 20 or Capaxvie for adults aged 50 and older. The vote was nearly unanimous, with CDC Director Mandy Cohen endorsing the recommendation. Merck's PCV21, approved in June, includes 8 additional serotypes not covered by Pfizer's PCV20, which was first approved for adults in 2021. There are no comparative efficacy studies between the two vaccines.