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Financial Results Q4
and Full Year 2024
Oncology
UPDATES
FINANCIAL RESULTS
The net sales for Roche has been converted from CHF to USD at the current exchange ratio of 1 CHF is equal to 1.08 USD (current value for
Feb 04, 2025)
Key Highlights from Full Year 2024
Financial Results
UPDATES
FINANCIAL RESULTS
Merck: Merck stood as one of the key market player in oncology with the
revenue of $32.31 billion, with a growth of 18% primarily driven by the sales of
Keytruda.
BMS: Oncology revenue for BMS has maintained a consistency with the previous
year revenue of approx. $25 billion, driven by the sales of Opdivo and Revlimid.
Roche: Oncology/haematology therapeutic area generated a revenue of $25.59
billion, growth being driven by Phesgo and Polivy, partially offset by the
biosimilar competition for Avastin, Herceptin and MabThera/Rituxan.
AstraZeneca: Total oncology revenue summed up to $22.35 billion with a growth
of 21%, driven by the sales of Enhertu, Imjudo, and Calquence.
J&J: Total oncology revenue summed up to $20.78 billion, growth was primarily
fueled by a remarkable sales of Carvykti.
Pfizer: Pfizer generated a strong revenue of $15.61 billion with a 25% growth,
driven by the remarkable sales of Talzenna and Lorbrena.
Novartis: 15% growth in Novartis’ oncology revenue of $14.74 billion is fueled by
the strong sales of Scemblix, Kisqali, and Pluvicto.
Amgen: Blincyto stood out as a growth engine for Amgen’s total oncology
revenue $9.1 billion revenue in 2024, compensating the slight dip in the sales of
Nplate and Mvasi.
Lilly: Lilly generated a remarkable growth of 31% fueled by the strong sales of
Retevmo, Verzenio and Tyvyt with a total revenue of $8.75 billion in oncology.
AbbVie: Total oncology revenue summed up to $6.55 billion is driven strongly by
the sales of Epkinly.
GSK: GSK experienced a sales growth of 4%, driven by the rising patient demand
for Zejula, Jemperli, and Ojjaara/Omjjara generating a total revenue of $1.8 billion
in oncology.
The net sales for Roche has been converted from CHF to USD at the current exchange ratio of 1 CHF is equal to 1.08 USD (current value for
Feb 04, 2025)
UPDATES
FINANCIAL RESULTS
Full Year 2024 Oncology Sales (Billion)
18
1
2
21
18
25
15
3
31
11
4
$32.31
$25.56
$23.74 $22.35
$20.78
$15.61 $14.74
$9.06 $8.75
$6.55
$1.80
Revenue for Full Year 2024 %YOY Change
Oncology earnings from Key 11 players
Key market players earning a total revenue of more than $20 billion
in oncology include Merck with $32.31 billion, Roche with $23.74
billion, BMS with $25.56 billion and AstraZeneca with $22.35 billion.
While players that has shown a remarkable YOY growth in their
oncology sales such as Lilly with 31.00%, Pfizer with 25.00%,
AstraZeneca with 21.00%, Merck with 18.00% and J&J with 17.70%
Key events in Q4 2024
Approvals:
Dec 16, 2024: Keytruda (pembrolizumab) approved in
China in combination with chemotherapy as
neoadjuvant treatment, then continued as monotherapy
after surgery as adjuvant treatment for patients with
resectable stage II, IIIA or IIIB NSCLC
Regulatory updates:
Dec 13, 2024: Ph III LITESPARK-005 trial: EU CHMP
adopted a positive opinion recommending the
conditional approval of Welireg (belzutifan) as
monotherapy for RCC
Dec 03, 2024: Received Breakthrough therapy
designation sacituzumab tirumotecan (sac-TMT) for
NSCLC with EGFR mutations
Nov 15, 2024: Ph II/III IND.227/KEYNOTE-483 trial: EU
CHMP adopted a positive opinion recommending the
approval of Keytruda (pembrolizumab)(combination
therapy) for 1L treatment in malignant pleural
mesothelioma
Data readout:
Dec 11, 2024: Ph III OlympiA trial: Lynparza (olaparib)
demonstrated clinically meaningful prolonged survival
benefit in eBC, primary and secondary endpoint met
Dec 09, 2024: Ph III KEYLYNK-001 trial: Keytruda
(pembrolizumab) + Lynparza (olaparib) demonstrated
clinically meaningful improvement in PFS, met its
primary endpoint, but did not reach its secondary
endpoint of overall survival in advanced epithelial
ovarian cancer
Dec 08, 2024: Ph II waveLINE-007 trial: Announced the
first presentation of zilovertamab vedotin (combination
therapy) in DLBCL at the American Society of
Hematology (ASH) Annual Meeting, demonstrating a
complete response rate of 100% at 1.75 mg/kg dose
Nov 19, 2024: Ph III MK-3475A-D77 trial: Subcutaneous
pembrolizumab with berahyaluronidase alfa met
primary endpoints
Anticipated Milestones in 2025
Medical Meeting Presentations
Ph III MK-3475A-D77 study: Subcutaneous
pembrolizumab + berahyaluronidase alfa
Ph III KN-689 study of Keytruda in locally
advanced HNSCC
Net revenue ($ MM) Revenues in
Oncology ($ MM) Total revenue ($ MM) Revenues in
Oncology ($ MM)
Pharmaceuticals: 14,042
(vs. 13,141) (7%)
8,616 (vs. 7,221) (19%) Pharmaceuticals: 57,400
(vs. 53,583) (15%)
32,312 (vs. 27,388) (18%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Keytruda
**Lynparza
**Lenvima
Welireg
**Reblozyl
7,836 (19%)
365 (16%)
255 (13%)
160 (122%)
110 (58%)
29,482 (18%)
1,311 (9%)
1,010 (5%)
509 (133%)
371 (75%)
UPDATES
FINANCIAL RESULTS
Company’s Remark
Deals in 2024
Dec 20, 2024: Enters into an exclusive global
licensing agreement with LaNova (Asset: LM-299)
Oct 01, 2024: MSD acquired Curon Pharma (Asset:
CN201) **Alliance revenue for this product represents Merck’s share of profits, which
are product sales net of cost of sales and commercialization costs
Robert M. Davis, chairman and CEO, Merck, stated:
“We delivered strong growth in 2024, reflecting
demand for our innovative portfolio, including for
Keytruda, which continues to benefit more patients
with cancer globally.”
2025 Guidance: Raised
Worldwide sales: Expected to between $64.1 billion
and $65.6 billion
Non-GAAP EPS: Expected to between $8.88 and
$9.03
Key events in Q4 2024
Approvals:
Dec 23, 2024: EC approved Opdivo (nivolumab) +
Yervoy (ipilimumab) in microsatellite instability–high
or mismatch repair deficient metastatic colorectal
cancer (MSI-H/dMMR mCRC)
*Jan 13, 2025: EC approved Augtyro (repotrectinib) in
NSCLC in adult and pediatric patients 12 years of age
and older
Regulatory updates:
*Jan 31, 2025: Ph II TRANSCEND FL trial: Positive
CHMP Opinion for Breyanzi (lisocabtagene
maraleucel; liso-cel) for R/R follicular lymphoma
*Jan 31, 2025: Ph III CheckMate -9DW trial: Positive
CHMP opinion for Opdivo (nivolumab) + Yervoy
(ipilimumab) as a 1L treatment option for unresectable
or advanced HCC
Data readout:
Jan 25, 2025: Ph III CheckMate -8HW trial: Primary
endpoint met in MSI-H/dMMR mCRC
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
12,342 (vs. 11,477) (8%) 6,364 (vs. 6,458) (1.46%) 48,300 (vs. 45,006) (7%) 25,558 (vs. 25,183) (1.49%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Opdivo
Yervoy
Opdualag
Abraxane
Krazati
Augtyro
Breyanzi
Abecma
Sprycel
Revlimid
Pomalyst/Imnovid
2,479 (4%)
675 (19%)
254 (34%)
174 (30%)
39
15
263 (160%)
105 (5%)
198 (62%)
1,339 (8%)
823 (8%)
9,304 (3%)
2,530 (13%)
928 (48%)
875 (13%)
126
38 (>200%)
747 (105%)
406 (14%)
1,286 (33%)
5,773 (5%)
3,545 (3%)
UPDATES
FINANCIAL RESULTS
Christopher Boerner, Board Chair and CEO, BMS
stated “We made good progress in 2024, which was
capped by a fourth quarter of strong topline growth
driven by key products and important pipeline
advancements. Our collective focus on execution has
established a solid foundation to navigate the
multi-year journey toward achieving top-tier
sustainable growth and long-term shareholder
returns.”
2025 Guidance: Lowered
Total revenue: ~$45.5 billion, reflecting, as
previously expected, the near-term impact of
generics across Revlimid, Pomalyst, Sprycel and
Abraxane, which BMS expect to result in a revenue
decline of approx 18-20% of the Legacy Portfolio.
Company’s Remark
*Outside of reporting period, added due to high impact of the news
# Revenues in oncology for Q4 2024 and the full year 2024 are the sum total
of the revenues disclosed for each oncology therapy in the financial results
Anticipated Milestones in 2025
Key data readout
Ph III INDEPENDENCE trial: Reblozyl in TD MF associated
anemia
Ph III RELATIVITY-098 trial: Opdualag in adjuvant
melanoma
Ph III EXCALIBER-RRMM trial: Iberdomide in R/R MM
Ph II KRYSTAL-17 trial: Krazati in NSCLC
Total revenues (CHF MM) Revenues in
Oncology/Haematology
(CHF MM)
Total revenues (CHF MM) Revenues in
Oncology/Haematology
(CHF MM)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
(CHF MM)
Full year 2024
(CHF MM)
Tecentriq
Perjeta
Kadcyla
Phesgo#
Alecensa
Herceptin
MabThera/Rituxan
Avastin
Polivy
Gazyva/Gazyvaro
937 (-4%)
807 (4%)
504 (5%)
496 (64%)
397 (6%)
318 (-13%)
356 (-4%)
290 (-20%)
304 (31%)
240 (22%)
3,640 (-3%)
3,616 (-4%)
1,998 (2%)
1,740 (55%)
1,548 (3%)
1,381 (-15%)
1,379 (-15%)
1,233 (-22%)
1,121 (34%)
910 (12%)
UPDATES
FINANCIAL RESULTS
Anticipated Milestones in 2025
Key data readouts
Giredestrant in ER+/HER2- BC
Ph III (evERA) giredestrant in post CDKi
ER+/HER2- mBC
Ph III (persevERA) giredestrant in 1L ER+/HER2-
mBC
Key events in Q4 2024
Product Launch:
Itovebi: US launch in 1L PIK3CA-mut HR+ BC ongoing
Regulatory updates:
Dec 05, 2024: FDA accepted sBLA for Columvi
(glofitamab)(combination therapy) for R/R diffuse
large B-cell lymphoma (Ph III STARGLO trial)
The FDA is expected to make a decision on approval
by Jul 20, 2025
Data readout:
*Jan 28, 2025: Ph III INAVO120 trial: Itovebi
demonstrated statistically significant and clinically
meaningful overall survival benefit in HR-positive
advanced breast cancer
Dec 08, 2024: Ph III POLARIX trial: Five-year results
confirm Polivy combination therapy as new standard
of care for previously untreated aggressive
lymphoma
Nov 26, 2024: Ph III SKYSCRAPER-01 study in
NSCLC: Did not reach the primary endpoint of overall
survival at the final analysis
Pipeline update since Q3 2024:
RG6058 (tiragolumab): Developing for 1L PD-L1 high
NSCLC and 1L esophageal cancer has been removed
from Ph III pipeline
Pharmaceuticals: 11,914
(vs. 10,893) (12%)
6,061 (vs. 5,583) (9%) Pharmaceuticals: 46,171
(vs. 44,265) (4%)
23,744 (vs. 23,234) (2%)
Study initiation
Ph III (INAVO123) in 1L PIK3CA-mut HR+ BC:
Expect FPI Q1 2025
Ph III initiation for divarasib in 1L NSCLC
Key approvals
Itovebi in 1L PIK3CA-mut HR+ BC: EU approval
# it is one of the key growth drivers for Pharmaceutical sales in the year 2024
* Outside of reporting period, added due to high impact of the news
UPDATES
FINANCIAL RESULTS
Company’s Remark
Deals in 2024
*Jan 01, 2025: Innovent enters into exclusive global license agreement with Roche (Asset: Novel DLL3 Antibody Drug
Conjugate in SCLC)
Nov 25, 2024: Acquisition of Poseida Therapeutics for a range of cell therapies across oncology, and other therapy
area (Assets : P-BCMA-ALLO1 for R/R multiple myeloma; P-MUC1C-ALLO1 for in solid tumours)
* Outside of reporting period, added due to high impact of the news
Roche Thomas Schinecker, CEO, Roche stated “2024 was a strong year for Roche. We are proud to have made a positive
impact on patients’ lives in 2024 with the launch of two new medicines – Itovebi for a hard-to-treat breast cancer and
PiaSky for a serious blood disorder – as well as our new solution for continuous blood glucose monitoring and our
innovative system for fully automated mass spectrometry.”
2025 Guidance: Raised
LOE impact of CHF 1.2 bn expected for 2025 (LOE=loss of exclusivity includes global losses of Avastin, Herceptin,
MabThera/Rituxan amongst other two therapies from non-oncology)
Group sales growth: Mid single digit sales growth
Company’s Remark
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
14,891 (vs. 12,024) (24%) 6,344 (vs. 4,989) (27%) 54,073 (vs. 45,811) (18%) 22,353 (vs. 18,447) (21%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Tagrisso
Imfinzi
Calquence
Lynparza
Enhertu
Zoladex
Imjudo
Truqap
Orpathys
Other Oncology
1,703 (20%)
1,254 (16%)
808 (20%)
1,444 (46%)
540 (48%)
252 (-4%)
73 (27%)
163 (>10x)
10 (-15%)
97 (-25%)
6,580 (13%)
4,717 (17%)
3,129 (24%)
3,672 (20%)
1,982 (54%)
1,097 (11%)
281 (29%)
430 (>10x)
46
419 (-19%)
*Outside of reporting period, added due to high impact of the news
UPDATES
FINANCIAL RESULTS
Key events in Q4 2024
Approvals:
Dec 23, 2024: Tagrisso approved in the EU for
unresectable EGFR-mutated NSCLC
Dec 05, 2024: Imfinzi approved in the US for
limited-stage SCLC
Regulatory updates:
*Jan 13, 2025: Datopotamab deruxtecan granted
Priority Review in the US for EGFR-mutated NSCLC
Dec 09, 2024: Datopotamab deruxtecan granted
breakthrough therapy designation in the US in
EGFR-mutated NSCLC
Dec 06, 2024: Imfinzi granted Priority Review in the
US for muscle-invasive bladder cancer
Nov 12, 2024: Datopotamab deruxtecan new BLA
submitted for accelerated approval in the US for
advanced EGFR-mutated NSCLC
Oct 14, 2024: Enhertu approved in China for
HER2-mutant metastatic NSCLC
Oct 03, 2024: Calquence granted Priority Review in
the US for untreated mantle cell lymphoma
Oct 01, 2024: Enhertu granted Priority Review in
the US for patients with HER2-low or HER2-ultralow
MBC
Pascal Soriot, CEO, AstraZeneca, stated “Our
company delivered a very strong performance in
2024 with Total Revenue and Core EPS up 21% and
19% respectively. We also delivered nine positive high
value Phase III studies in the year, which coupled with
increasing demand for our medicines in all key
regions, will help sustain our growth momentum into
2025. This year marks the beginning of an
unprecedented, catalyst-rich period for our company,
an important step on our Ambition 2030 journey to
deliver $80 billion Total Revenue by the end of the
decade.”
2025 Guidance: Raised
Total Revenue: Expected to increase by a high
single-digit percentage
Core EPS: Expected to increase by a low
double-digit percentage
UPDATES
FINANCIAL RESULTS
Key events in Q4 2024
Data readout:
Dec 08, 2024: Ph III AMPLIFY trial: Calquence
(acalabrutinib) + venetoclax achieved PFS in chronic
lymphocytic leukaemia
Dec 11, 2024: Ph III OlympiA trial: Lynparza
(olaparib) achieved primary endpoints in germline
BRCA-mutated (gBRCAm) HER2- high-risk early
breast cancer
Nov 25, 2024: Ph III CAPItello-281 trial: Truqap
(capivasertib) (combination therapy) achieved primary
endpoint in PTEN-deficient metastatic
hormone-sensitive prostate cancer
Withdrawn trial:
Dec 24, 2024: Ph III TROPION-Lung01 trial:
AstraZeneca and Daiichi Sankyo have voluntarily
withdrawn the marketing authorisation application in
the EU for datopotamab deruxtecan for locally
advanced or metastatic NSCLC
Anticipated Milestones in 2025
Key Data readout
H1 2025: Ph III DESTINY-Breast11 trial: Enhertu –
high-risk HER2+ early breast cancer (neoadj.)
H1 2025: Ph III TROPION-Breast02 trial: Datroway
– met. TNBC
H2 2025: Ph III SAFFRON trial: Tagrisso +
Orpathys – EGFRm NSCLC
H2 2025: Ph III MATTERHORN trial: Imfinzi –
resectable GC/GEJC
H2 2025: Ph III POTOMAC trial: Imfinzi –
non-muscle-invasive bladder cancer
H2 2025: Ph III VOLGA trial: Imfinzi –
muscle-invasive bladder cancer
H2 2025: Ph III DESTINY-Breast05 trial: Enhertu –
high-risk early HER2+ breast cancer (adjuvant)
H2 2025: Ph III DESTINY-Breast09 trial: Enhertu –
HER2+ met. breast cancer (1L)
H2 2025: Ph III AVANZAR trial: Datroway + Imfinzi
– Non-squamous/Non-squamousTROP2+ NSCLC
(1L)
H2 2025: Ph III SERENA-6 trial: Camizestrant –
ESR1m HR+ HER2- met. breast cancer (1L switch)
H2 2025: Ph III LATIFY trial: Ceralasertib – post-IO
NSCLC
Regulatory decision
H1 2025: Enhertu – HER2-low and -ultralow met.
breast cancer (Ph III DESTINY-Breast06 trial) (EU)
H1 2025: Datroway – HR+ HER2- met. breast
cancer (2L+) (Ph III TROPION-Breast01 trial) (EU)
H2 2025: Calquence – MCL (1L) (ECHO) (EU, JP)
H2 2025: Ph III AMPLIFY trial: Calquence – CLL (1L
fixed duration)
H2 2025: Ph III ADRIATIC trial: Imfinzi –
limited-stage SCLC (EU, CN)
H2 2025: Ph III TROPION-Lung05 trial: Datroway
– EGFRm NSCLC (later line)
Note: Regulatory decision in anticipated milestone section have been
considered only for US and EU market
Key events in Q4 2024
Approvals:
*Jan 21, 2025: Marketing Authorisation given to
Rybrevant (amivantamab) + Lazcluze (lazertinib), for
1L treatment of adult patients with advanced NSCLC
with EGFR mutations
Dec 30, 2024: EC approved Type II variation
extension of indication for Rybrevant (amivantamab) +
Lazcluze (lazertinib), for 1L treatment of adult patients
with advanced NSCLC with EGFR mutations
Oct 23, 2024: EC approved Darzalex (daratumumab)
SC formulation (combination therapy) in newly
diagnosed multiple myeloma
Regulatory updates:
*Jan 15, 2025: NDA initiated with FDA for TAR200, for
patients with BCG-unresponsive high-risk
non-muscle-invasive bladder cancer
Dec 18, 2024: Application submitted to the EMA
seeking approval of a new indication for Imbruvica
(ibrutinib) in adult patients with previously untreated
mantle cell lymphoma
Nov 08, 2024: Application submitted in the US and
EU seeking approval of Darzalex Faspro/ Darzalex
(daratumumab) as SC monotherapy for high risk
smoldering multiple myeloma
Data readout:
*Jan 07, 2025: Ph III MARIPOSA trial: Demonstrated
clinically meaningful improvement in overall survival
in advanced NSCLC
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
22,520 (vs. 21,395) (5.3%) 5,497 (vs. 4,618) (19%) 88,821 (vs. 85,159) (4.3%) 20,781 (vs. 17,661) (17.7%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Carvykti
Darzalex
Erleada
Imbruvica
Tecvayli
Zytiga
Other oncology
334(#)
3,084 (20.9%)
784 (20.9%)
731 (-7.2%)
146 (15.8%)
135 (-32.4%)
282 (90.4%)
963 (92.7%)
11,670 (19.8%)
2,999 (25.6%)
3,038 (-6.9%)
549 (38.8%)
631 (-28.8%)
931 (92.5%)
# percentage change either more than 100 or not meaningful
*Outside of reporting period, added due to high impact of the news
UPDATES
FINANCIAL RESULTS
Company’s Remark
Joaquin Duato, Chairman and CEO, Johnson &
Johnson (J&J) stated “2024 was a transformative
year for Johnson & Johnson, marked by strong
growth, an accelerating pipeline and industry-leading
investments in innovations.”
2025 Guidance: Raised
Operational sales growth: 2.5% - 3.5%
Adjusted operational EPS: $10.75 - $10.95
Company’s Remark
Key events in Q4 2024
Approvals:
Dec 20, 2024: FDA approved Braftovi
(encorafenib)(combination therapy) for metastatic
colorectal cancer with a BRAF V600E mutation
Data readout:
*Jan 10, 2025: Ph III CREST trial of sasanlimab
(combination therapy) in non-muscle invasive bladder
cancer
Dec 12, 2024: Ph III PATINA trial of Ibrance
(combination therapy) in HR+, HER2- in MBC
Oct 10, 2024: Ph III TALAPRO-2 trial of Talzenna
(talazoparib) + Xtandi (enzalutamide), for mCRPC
Regulatory decision
Adcetris in DLBCL
Braftovi in 1L BRAFm mCRC (PFS)
Talzenna + Xtandi in mCRPC all-comers
Anticipated Milestones in 2025
Key data readouts
Ph III data readout for
Elrexfio in DCE Multiple Myeloma
Padcev in muscle-invasive bladder cancer
Talzenna + Xtandi in 1L CSPC
Tukysa in HER2+ BC
Vepdegestrant in 2L ER+ mBC
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
17,763 (vs. 14,570) (22%) 4,064 (vs. 3,189) (27%) 63,627 (vs. 59,553) (7%) 15,612 (vs. 12,450) (25%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Ibrance
Xtandi
Padcev
Adcetris
Inlyta
Lorbrena
Bosulif
Braftovi/Mektovi
Tukysa
Elrexfio
Tivdak
Talzenna
All other oncology
1,095 (-2%)
565 (24%)
444
285
242 (-8%)
192 (32%)
171 (-6%)
170 (30%)
129
57
36
27 (22%)
440 (7%)
4,367 (-8%)
2,039 (23%)
1,588
1,089
978 (-6%)
731 (36%)
645
607 (27%)
480
133
131
117 (83%)
1,670 (-3%)
* Outside of reporting period, added due to high impact of the news
UPDATES
FINANCIAL RESULTS
Dr. Albert Bourla, Chairman and CEO, stated: “2024 was a
strong year of execution and performance for Pfizer in which
we met or exceeded our strategic and financial commitments,
strengthened our company and, most importantly, reached
millions of patients with our medicines and vaccines.”
2025 Guidance: Lowered
Revenue for 2025: $61.0 to $54.0 billion
Adjusted R&D Expenses for 2025: $10.7 to $11.7 billion
Product sales Key events in Q4 2024
Approvals:
Nov 27, 2024: EC approved Kisqali (ribociclib) as an
adjuvant treatment in combination with an aromatase
inhibitor for patients with HR+/HER2- early breast
cancer (eBC) at high risk of recurrence
Oct 29, 2024: FDA granted accelerated approval to
Scemblix (asciminib) for adult patients with newly
diagnosed Philadelphia chromosome-positive chronic
myeloid leukemia (Ph+ CML-CP)
Discontinued trials :
H1 2024: Ph II/III trial of Opnurasib developing for 1L
NSCLC (combo): Program discontinued to prioritize
other key programs in portfolio
Deals in 2024
* Feb 05, 2024: Novartis acquired MorphoSys AG (Asset:
Pelabresib (CPI-0610))
May 03, 2024: Novartis acquired Mariana Oncology
(Asset: MC-339 and other radioligand under pipeline
development)
Company’s Remark
Net income ($ MM) Revenues in
Oncology ($ MM) Net income ($ MM) Revenues in
Oncology ($ MM)
13,153 (vs. 11,423) (15%) 3,932 (vs. 3,346) (18%) 50,317 (vs. 45,440) (11%) 14,740 (vs. 12,851) (15%)
Q4 2024 Full year 2024
Anticipated Milestones in 2025
Key regulatory submission/approvals
Ph III (NCT04689828) Pluvicto mCRPC,
pre-taxane (US approval)
Scemblix 1L CML (JP approval, EU submission)
Pluvicto mHSPC (US submission)
Fabhalta C3G (US, JP, EU approvals)
Key data readouts
Ph III (NCT04720157) trials data for Pluvicto mHSPC
(US submission)
Study initiations
Ph III trials for Kisqali + oral SERD
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Kisqali
Pluvicto
Scemblix
Jakavi
Tasigna
Promacta/Revolade
902 (48%)
351 (29%)
207 (66%)
487 (10%)
411 (-8%)
583 (4%)
3,033 (46%)
1,392 (42%)
689 (67%)
1,936 (13%)
1,671 (-10%)
2,216 (-2%)
UPDATES
FINANCIAL RESULTS
* Outside of reporting period, added due to high impact of the news
Vas Narasimhan, CEO, Novartis, stated: “Novartis delivered
one of the strongest financial performances in our history,
growing sales 12% cc and core operating income 22% cc.”
2025 Guidance: Raised
Net sales: Expected to grow mid- to high-single digit
Novartis assumes Tasigna, Promacta US generic entry
mid-2025 for forecasting purposes
Company’s Remark
Key events in Q4 2024
Data readout:
Dec 07, 2024: Ph III (NCT03914625) new data of
Blincyto (blinatumomab) in B-cell acute
lymphoblastic leukemia
Key study initiation
H2 2025: Initiation of Ph II study of Blincyto SC
formulation
Anticipated Milestones in 2025
Data readout
H1 2025: Ph III DeLLphi-304 trial data of Imdelltra
for 2L ES-SCLC
H1 2025: Ph III FORTITUDE-101 trial data of
bemarituzumab in 1L gastric cancer
H2 2025: Ph III FORTITUDE-102 trial data of
bemarituzumab in 1L gastric cancer
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
9,086 (vs. 8,196) (11%) 2,320 (vs. 2,259) (2.7%) 33,424 (vs. 28,190) (19%) 9,068 (vs. 8,765) (3.46%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Blincyto
Vectibix
Kyprolis
Lumakras/Lumykras
Xgeva
Nplate
Imdelltra
Mvasi
381 (58%)
246 (-2%)
372 (6%)
85 (10%)
561 (6%)
337 (-13%)
67
173 (-8%)
1,216 (41%)
1,045 (6%)
1,503 (7%)
350 (25%)
2,225 (5%)
1,456 (-1%)
115
727 (-9%)
UPDATES
FINANCIAL RESULTS
Robert A. Bradway, chairman and CEO, Amgen stated "Robust
growth in sales and earnings throughout 2024 reflects the
momentum of our business. With strong performance
globally, we are investing heavily in our rapidly advancing
pipeline to deliver innovative therapies across our four
therapeutic areas.”
2025 Guidance: Raised
Total revenues: $34.3 billion to $35.7 billion
Capital expenditures: ~ $2.3 billion
Key events in Q4 2024
Data readout:
Dec 11, 2024: Ph III EMBER-3 trial: Imlunestrant met
primary endpoint in ER+, HER2- MBC
Dec 09, 2024: Ph III BRUIN CLL-321 trial: Jaypirca
(pirtobrutinib) met its primary endpoint in chronic
lymphocytic leukemia or small lymphocytic
lymphoma
Company’s Remark
Anticipated Milestones in 2025
Data readout
Ph III BRUIN CLL-313 and BRUIN CLL-314 trial of
pirtobrutinib in 1L CLL
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
13,532 (vs. 9,353.4) (45%) 2,552 (vs. 1,884) (35%) 45,042 (vs. 34,124) (32%) 8,752 (vs. 6,658) (31%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Alimta
Cyramza
Elunate
Erbitux
Jaypirca
Retevmo
Tyvyt
Verzenio
Other Oncology
39 (-13%)
259 (2%)
23 (-1%)
175 (16%)
114
90 (23%)
136 (20%)
1,555 (36%)
162
190 (-13%)
973
111 (8%)
627 (5%)
337
364 (44%)
526 (34%)
5,307 (37%)
316 (75%)
*Outside of reporting period, added due to high impact of the news
UPDATES
FINANCIAL RESULTS
Key study initiation
Initiation of Ph III trial of Olomorasib in adjuvant
NSCLC
Regulatory decision
Pirtobrutinib for 1L CLL [US/EU]
Imlunestrant ER+, HER2- mBC [US/J]
David A. Ricks, chair and CEO, Lilly stated "2024 was a highly
successful year for Lilly. We enter 2025 with tremendous
momentum and look forward to strong financial performance
and several important Phase 3 readouts which, if positive, will
further accelerate our long-term growth."
2025 Guidance: Raised
Revenue: $58.0 billion to $61.0 billion
Non-GAAP EPS: $22.50 to $24.00 billion
Deals in 2024
*Jan 13, 2025: Lilly announced about the acquisitions of
Scorpion Therapeutics (Asset: STX-478 in HR+ BC)
Product sales Key events in Q4 2024
Approvals:
Nov 18, 2024: Received Marketing authorization of
Elahere (mirvetuximab soravtansine) for
platinum-resistant high grade serous epithelial
ovarian, fallopian tube or primary peritoneal cancer
Data readout:
Dec 09, 2024: Announced new results from two
ongoing clinical trials (EPCORE NHL-1 and EPCORE
NHL-2) for Epkinly in patients with diffuse large B-cell
lymphoma (DLBCL)
Deals in 2024
*Jan 23, 2025: AbbVie and Neomorph entered into
Collaboration and license agreement
*Jan 13, 2025: AbbVie and Simcere Zaiming entered into a
partnership and option-to-license agreement (Asset:
SIM0500 in r/r multiple myeloma)
Oct. 31, 2024: AbbVie and EvolveImmune Therapeutics
entered into a collaboration and option-to-license
agreement
Company’s Remark
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
15,102 (vs. 14,301) (5.6%) 1,691 (vs. 1,509) (12%) 56,334 (vs. 54,318) (3.7%) 6,555 (vs. 5,915) (10.8%)
Q4 2024 Full year 2024
Anticipated Milestones in 2025
Key data readouts
Temab-A Ph1 (NCT06772623) NSCLC EGFR
mutant
Data readout for ABBV-706 from Ph1
(NCT05599984) trial in SCLC
Data readout for Livmoniplimab Ph2 in 1L & 2L HCC
Key approvals
Accelerated approval for Teliso-V in 2L+ NSCLC
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Imbruvica
Venclexta
Elahere
Epkinly
848 (-6.2%)
655 (11%)
148#
40 (>100%)
3,347 (-6.9%)
2,583 (12.9%)
479#
146 (>100%)
UPDATES
FINANCIAL RESULTS
#Not meaningful data
* Outside of reporting period, added due to high impact of the news
Robert A. Michael, CEO, AbbVie, stated: “2024 was a year of
significant progress for AbbVie. Our growth platform
delivered outstanding results, we advanced our pipeline
with key regulatory approvals and promising data, and we
strengthened our business through strategic transactions,”
2025 Guidance: Raised
Net sales: Expected to grow mid- to high-single digit
Key events in Q4 2024
Approvals:
*Jan 20, 2025: EC expands Jemperli (dostarlimab)+
chemotherapy to all adult patients with primary
advanced or recurrent endometrial cance
Regulatory updates:
*Jan 07, 2025: GSK’227, received US FDA
Breakthrough Therapy Designation in late-line R/R
osteosarcoma
Dec 16, 2024: Jemperli (dostarlimab) received US
FDA Breakthrough Therapy Designation for
dMMR/MSI-H rectal cancer
Dec 16, 2024: GSK’227, received EMA Priority
Medicines (PRIME) Designation in relapsed SCLC
Nov 25, 2024: Ph III DREAMM-7/8 trial: Blenrep
combinations accepted for review by the US FDA for
the treatment of relapsed/refractory multiple
myeloma
US decision expected by Jul 23, 2025
Data readout:
Dec 20, 2024: Ph III FIRST-ENGOT-OV44 trial :
Primary endpoint of PFS met in advanced ovarian
cancer
Nov 14, 2024: Ph III DREAMM-7 data: Secondary
endpoint met in R/R multiple myeloma
Anticipated Milestones in 2025
Key data readout
H1 2025: Cobolimab Ph III COSTAR data in NSCLC
H1 2025: Zejula Ph III ZEAL data in NSCLC
Total revenues ($ MM) Revenues in
Oncology ($ MM) Total revenues ($ MM) Revenues in
Oncology ($ MM)
10,380 (4%) 521 (72%) 40,127 (7%) 1,803 (4%)
Q4 2024 Full year 2024
Product sales
Therapy Q4 2024
($ MM)
Full year 2024
($ MM)
Zejula
Jemperli
Ojjaara/Omjjara
Blenrep
Other
183 (3%)
191 (>100%)
151 (>100%)
1 (83%)
4
758 (17%)
597 (>100%)
451 (>100%)
3 (94%)
6 (>100%)
*Outside of reporting period, added due to high impact of the news
UPDATES
FINANCIAL RESULTS
Regulatory decision
H1 2025: Ph III DREAMM-7/8 trial: blenrep
regulatory decision (Jp)
H2 2025: Ph III COSTAR trial: Cobolimab
regulatory decision (US, EU)
Company’s Remark
Emma Walmsley, CEO, GSK, stated “GSK delivered
another year of excellent performance in 2024, with
strong sales and core profit growth driven by
accelerating momentum of our specialty medicines
portfolio.”
2025 Guidance: Raised
Turnover is expected to increase between 3-5%
Core operating profit is expected to increase
between 6-8%
