Ascendis Pharma (NASDAQ: ASND) reported Thursday August 13, 2026 Q2 2026 financial results with product revenue of €315 million (+105% year-over-year). YORVIPATH (palopegteriparatide, a TransCon parathyroid hormone peptide analog for chronic hypoparathyroidism) delivered €252 million on consistent new patient demand in the US and continued ex-US global launch expansion with full reimbursement in additional markets. SKYTROFA (lonapegsomatropin, a TransCon growth hormone peptide for pediatric growth hormone deficiency) delivered €55 million. YUVIWEL (TransCon C-type natriuretic peptide for achondroplasia) delivered €8 million with more than 220 US patient enrollments through July 31, 2026. Total Q2 revenue reached €339 million (+100% YoY) including €24 million in collaboration and milestone income. The YUVIWEL launch positions Ascendis directly against BioMarin's Voxzogo (vosoritide) in the same achondroplasia pediatric indication, opening a new front in the CNP peptide analog commercial category. YORVIPATH's €252 million quarterly revenue trajectory suggests a $1+ billion annual run-rate for the peptide franchise by end of 2026, a notable rare-disease peptide launch magnitude. Ascendis's TransCon platform uses a transient linker chemistry to release parent drug over an extended half-life, allowing weekly dosing of peptides that natively have short in vivo lifespans.
Hims & Hers Health (NYSE: HIMS) reported Q2 2026 earnings after market close Monday August 10, 2026. Revenue reached $753.2 million (+38% year-over-year), beating consensus of $698.9 million. US revenue was $621.8 million (+16% YoY); international revenue climbed to $131.4 million (+17-fold year-over-year) aided by the completion of the Eucalyptus acquisition in June 2026. Subscribers grew to approximately 2.9 million (+19% YoY). The company raised full-year 2026 guidance to $3.1-3.3 billion in revenue and $275-325 million in Adjusted EBITDA. Net loss was $86.3 million versus $42.5 million net income in Q2 2025 as gross margin compressed to 64% from 76% year-ago; the compression reflects the strategic pivot from compounded GLP-1s (higher margin) to branded GLP-1 supply (lower margin) through Novo Nordisk (Wegovy, Ozempic) and Eli Lilly (Zepbound, Mounjaro) commercial partnerships since Q1 2026. The FTC lawsuit filed July 29 alleging the company shared consumer sensitive health information with Meta Platforms and Snap Inc. through embedded tracking technologies and separately alleging unauthorized billing charges (with Los Angeles County and Utah as co-plaintiffs) remains a substantive overhang. Chief Medical Officer Dr. Anant Vinjamoori's July 23 PCAC harm-reduction testimony framing continues to shape the post-PCAC peptide-strategy narrative.
BioMarin Pharmaceutical (NASDAQ: BMRN) reported Q2 2026 financial results after market close Thursday August 6, 2026 with total revenue of $990 million (+20% year-over-year), approaching the $1 billion quarterly threshold. Non-GAAP diluted EPS of $0.54 beat the $0.23 analyst consensus. Growth drivers: continued commercial strength of Voxzogo (vosoritide, C-type natriuretic peptide analog administered as a daily subcutaneous injection for achondroplasia in pediatric patients); contribution from the completed Amicus Therapeutics acquisition adding GALAFOLD (migalastat for Fabry disease) and POMBILITI + OPFOLDA (cipaglucosidase alfa plus miglustat oral chaperone for late-onset Pompe disease) to the BioMarin rare-disease portfolio; and continued growth of Palynziq (pegvaliase-pqpz for phenylketonuria). ROCTAVIAN (valoctocogene roxaparvovec, hemophilia A AAV gene therapy) revenue continued to decline following the Q1 2026 voluntary market withdrawal announced earlier in the year. The Amicus acquisition adds cost synergies expected to accelerate revenue growth, non-GAAP diluted EPS accretion, non-GAAP operating margin expansion, and operating cash flow through the mid-2030s per BioMarin management commentary. BioMarin's Voxzogo peptide franchise represents one of the sole approved peptide therapies in the pediatric endocrine indication space and continues to demonstrate the commercial scalability of the C-type natriuretic peptide modality.
The peptide-and-obesity Q2 2026 earnings week (Merck August 4, Pfizer August 4, Amgen August 4, Eli Lilly August 5, Novo Nordisk H1 August 4-5) delivered mixed signals across the pharma sector. Merck (NYSE: MRK) posted $16.61 billion Q2 revenue (+5% YoY, beat consensus by $250M), raised FY revenue guidance to $66.3-67.3 billion but cut adjusted EPS guidance to $2.66-2.76 due to a $5.7 billion Terns Pharmaceuticals acquisition charge; Keytruda reached $8.37 billion (+5%) and LIPFENDRA (enlicitide) launched at $315/month with $5 billion peak sales potential by 2034. Pfizer (NYSE: PFE) reported $15 billion revenue and $0.77 adjusted diluted EPS, raised FY revenue guidance midpoint to $60.5-62.5 billion, and CEO Bourla said the obesity program (danuglipron plus Metsera pipeline) is advancing with substantial momentum. Amgen (NASDAQ: AMGN) reported $10.05 billion Q2 revenue (+10% YoY), raised FY guidance to $38.2-39.4 billion, discontinued AMG 513 early-stage obesity candidate leaving MariTide as sole obesity focus. Eli Lilly (NYSE: LLY) delivered $23 billion Q2 revenue (+48% YoY blowout), raised FY guidance to $85-87 billion, Mounjaro reached $9.9 billion (+91%), Zepbound $4.9 billion US (+44%), and Foundayo generated $98 million in first fully operational commercial quarter. Novo Nordisk H1 reached 78.49 billion DKK ($12.09 billion, +3% CER) with Wegovy pill at 5 million+ prescriptions and raised guidance; NVO shares fell 5% on margin concerns. Alnylam (NASDAQ: ALNY) extended a 30% selloff (approximately $12 billion market cap lost) since the July 30 Q2 report on the Amvuttra TTR guidance cut plus eplontersen setback.
BioMarin Pharmaceutical (NASDAQ: BMRN) hosts its Q2 2026 financial results conference call and webcast Thursday August 6, 2026 at 4:30 PM ET. Analyst focus areas: Voxzogo (vosoritide) commercial trajectory in achondroplasia (Voxzogo is a C-type natriuretic peptide analog administered by daily subcutaneous injection, making it a substantive peptide franchise for the site's coverage); ROCTAVIAN (valoctocogene roxaparvovec) hemophilia A AAV gene therapy commercial ramp and payer coverage; Palynziq (pegvaliase-pqpz) for phenylketonuria (PKU) revenue trajectory; and the broader rare-disease enzyme replacement franchise including VIMIZIM (elosulfase alfa), Naglazyme (galsulfase), and Aldurazyme (laronidase). BioMarin has been transitioning its commercial focus from the mature enzyme replacement franchise toward newer growth drivers (Voxzogo and ROCTAVIAN) with analyst attention on the balance of growth-portfolio contribution versus legacy-franchise stability. Amylyx Pharmaceuticals (NASDAQ: AMLX) also reports Q2 2026 results Thursday August 6 at 8:00 AM ET, with focus on the amyotrophic lateral sclerosis (ALS) pipeline following the March 2024 US withdrawal of Relyvrio and pipeline reprioritization to progressive supranuclear palsy (PSP) and other rare neurodegenerative indications. Tarsus Pharmaceuticals (NASDAQ: TARS) reports at 8:00 AM ET.
Eli Lilly (NYSE: LLY) reported Q2 2026 earnings Wednesday August 5, 2026 with revenue of $23 billion (+48% year-over-year), well ahead of analyst consensus of $20.5 billion. Full-year 2026 revenue guidance was raised to $85-87 billion from the prior $82-85 billion range. Mounjaro (tirzepatide for type 2 diabetes) revenue rose 91% to $9.9 billion, split $4.8 billion US and $5.2 billion international, with the international majority driven by aggregate international Mounjaro market share now above 50% per prior Lilly executive commentary. Zepbound (tirzepatide for obesity) delivered $4.9 billion in US revenue (+44% year-over-year), with strong prescription-volume growth more than offsetting the low-to-mid-teens price erosion Lilly had guided to for FY26. Foundayo (orforglipron, the first oral small-molecule GLP-1 receptor agonist approved by FDA in April 2026) generated $98 million in its first fully operational commercial quarter, providing the first commercial-earnings-line view of the oral small-molecule GLP-1 category. Combined Mounjaro + Zepbound franchise revenue reached $14.9 billion, representing approximately 65% of total Lilly revenue for the quarter. LLY shares rose approximately 4% intraday on the earnings and guidance beat. Analyst commentary flagged the substantial widening of the Lilly-Novo obesity franchise gap.
Merck (NYSE: MRK) reported Q2 2026 earnings Tuesday August 4, 2026 before market open with quarterly revenue of $16.61 billion (+5% year-over-year), beating analyst consensus of $16.36 billion. Keytruda (pembrolizumab) generated $8.37 billion in Q2 sales (+5% YoY), exceeding analyst expectations of $8.27 billion; the total includes $463 million from the newly-launched more convenient injectable Keytruda formulation. Merck highlighted the July 16, 2026 LIPFENDRA (enlicitide) FDA approval as the first once-daily oral macrocyclic peptide PCSK9 inhibitor in the class, priced at $315 per month with peak sales potential of $5 billion by 2034. Full-year 2026 revenue guidance was raised to $66.3-67.3 billion from the prior $65.8-67 billion range, but adjusted EPS guidance was cut to $2.66-2.76 to reflect a one-time $5.7 billion ($2.31 per share) charge tied to the Terns Pharmaceuticals acquisition that closed in H1 2026. Merck shares rose 0.6% in early trading to $128.54. Broader pipeline highlights include continued growth of Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma), and Capvaxive (pneumococcal vaccine), plus the integration of Terns and Cidara acquisitions. Merck has beaten consensus in each of the trailing four quarters.
Pfizer (NYSE: PFE) reported Q2 2026 earnings Tuesday August 4, 2026 with revenue of $15 billion and adjusted diluted EPS of $0.77, beating analyst expectations. The company raised the midpoint of its full-year 2026 revenue guidance to $60.5-62.5 billion, up from a previous $59.5-62.5 billion range. The guidance update reflected approximately $1.5 billion in upside from non-COVID products, partially offset by a reduction in the company's forecast for COVID-19 treatments (Paxlovid and Comirnaty) now pegged at approximately $4 billion for the year. Adjusted R&D expenses increased 12% operationally to $2.7 billion, driven by increased spending on oncology and obesity product candidates. CEO Albert Bourla said in the earnings call that the obesity program is advancing with substantial momentum and that the oncology portfolio remains a source of strength. Shares rose approximately 1.86% to $25.50 following the announcement. Pfizer's obesity program includes danuglipron (oral GLP-1) and multiple next-generation candidates advanced through the Metsera acquisition; the Metsera monthly-injectable ultra-long-acting GLP-1 candidate produced up to 11% weight loss over 28 weeks in Phase 2b data reported earlier in 2026.
Amgen (NASDAQ: AMGN) reported Q2 2026 earnings Tuesday August 4, 2026 with a beat and raised full-year 2026 revenue guidance to $38.2-39.4 billion (midpoint $38.8 billion above the $37.7 billion analyst consensus). Adjusted EPS guidance is $22.30-23.50 (midpoint $22.90 above the $22.35 consensus). Growth-portfolio product performance drove the beat: Repatha (evolocumab, PCSK9 monoclonal antibody) reached $953 million (+37% year-over-year); EVENITY (romosozumab for osteoporosis) $714 million (+38%); TEZSPIRE (tezepelumab for severe asthma) $486 million (+42%); UPLIZNA (inebilizumab for neuromyelitis optica spectrum disorder) $335 million (+90%). The MariTide (maridebart cafraglutide, monthly-injectable antibody-peptide conjugate targeting GLP-1 and GIPR) Phase 3 obesity program continues advancing with multiple trials across weight management, cardiovascular outcomes, and heart failure indications; earnings-call commentary described 2026 as a year of disciplined MariTide data generation. Analyst scrutiny remains on the 4% bone mineral density decline observed in Phase 1 MariTide data (per Cantor Fitzgerald analysis) as a potential regulatory hurdle and safety disadvantage versus GLP-1 receptor agonist competitors. Amgen shares closed up 3.03% on August 4.
Novo Nordisk reported Q2 2026 earnings Tuesday August 4, 2026 with sales of 78.49 billion Danish kroner ($12.09 billion, +3% constant currency, +7% adjusted). Franchise performance: Wegovy injectable reached 19.484 billion DKK (+1% year-over-year); Wegovy pill (oral semaglutide 25/50 mg for obesity, launched Q1 2026) generated 3.218 billion DKK on more than 5 million cumulative prescriptions since launch; Ozempic (semaglutide for type 2 diabetes) grew 3% to 31.375 billion DKK. Novo Nordisk hiked its 2026 adjusted sales guidance to down 6% to flat at constant exchange rates, an improvement from the previous guidance that had reflected the substantially compressed pricing environment from the Trump administration Most-Favored-Nation deals and the July 1 Medicare GLP-1 Bridge Program launch. The Wegovy pill launch trajectory (5 million prescriptions in roughly six months) is one of the fastest oral obesity-drug uptake curves on record and effectively confirms the strength of the SNAC-enhanced oral peptide formulation strategy that Novo has pursued since the 2019 Rybelsus approval for type 2 diabetes. Novo shares tanked despite the raised outlook, reflecting concern about the tough Q2 2025 comparison and margin trajectory into 2027.
Merck (NYSE: MRK) Q2 2026 earnings pre-day positioning ahead of the Tuesday August 4, 2026 before-market-open report. Zacks analyst consensus: $16.33 billion revenue, $1.36 diluted EPS (down 36.2% year-over-year from $2.13 in Q2 2025). Analyst focus areas: Keytruda (pembrolizumab) sales trajectory (Zacks estimate $8.06 billion Q2, driven by earlier-stage indication uptake and continued metastatic-setting momentum) ahead of the 2028 US patent cliff that ends Keytruda exclusivity; the initial commercial ramp of LIPFENDRA (enlicitide) oral macrocyclic peptide PCSK9 inhibitor following the July 16, 2026 FDA approval, with peak sales potential estimated at $5 billion by 2034 and analyst commentary describing the safety label as 'the cleanest in the class'; contribution from Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma), and Capvaxive (pneumococcal vaccine); and the integration of the Terns Pharmaceuticals and Cidara Therapeutics acquisitions closed in H1 2026. Merck has beaten earnings expectations in each of the trailing four quarters with a 7.75% average earnings surprise; analyst attention also on potential FY 2026 revenue guidance revision from the prior $65.8-67 billion range and non-GAAP EPS guidance from $5.04-5.16.
Merck (NYSE: MRK) reports Q2 2026 earnings Tuesday August 4, 2026 before market open with Zacks analyst consensus at $16.33 billion revenue and $1.36 diluted EPS (-36.2% year-over-year from $2.13 in Q2 2025). Analyst focus areas: Keytruda (pembrolizumab) sales trajectory with the Zacks estimate at $8.06 billion Q2, driven by earlier-stage indication uptake and continued metastatic-setting momentum ahead of the 2028 US patent cliff; the initial commercial launch of LIPFENDRA (enlicitide) macrocyclic peptide oral PCSK9 inhibitor following the July 16, 2026 FDA approval at $315/month list price ($10.50 per tablet), with peak sales potential estimated at $5 billion by 2034; the emerging contribution of Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma and VHL disease), and Capvaxive (pneumococcal vaccine); and pipeline signal from the Terns Pharmaceuticals and Cidara Therapeutics acquisitions completed in H1 2026. Merck has beaten earnings expectations in each of the trailing four quarters with a 7.75% average earnings surprise. Beyond Q2 specifically, analyst attention will focus on the FY 2026 revenue guidance ($65.8-67 billion range on the prior call) and non-GAAP EPS guidance ($5.04-5.16 range) for revisions.
Eli Lilly (NYSE: LLY) reports Q2 2026 earnings Wednesday August 5, 2026 before market open with analyst consensus at $20.5 billion revenue and $7.74 EPS. Primary analyst focus numbers: Foundayo (orforglipron) weekly prescription volumes near 20,000 as the initial commercial ramp indicator following the April 2026 FDA approval as the first oral small-molecule non-peptide GLP-1 receptor agonist; Mounjaro (tirzepatide, type 2 diabetes indication) and Zepbound (tirzepatide, obesity indication) sales trajectory (Q1 2026 combined revenue $12.82 billion, approximately 65% of Lilly total revenue, driven by U.S. commercial volume plus international expansion with aggregate international Mounjaro market share now north of 50% per Lilly executive commentary at Goldman Sachs Healthcare Conference); full-year 2026 revenue guidance currently at $83-85 billion for potential revision; and the international pricing pressure headwind with management guiding low-to-mid-teens price erosion for FY26. Novo Nordisk reports H1 2026 results the same Wednesday August 5. Wegovy pill (oral semaglutide 25/50 mg for obesity) Q1 2026 sales of approximately $354 million provide the H1 baseline for the Novo pill franchise; injectable Wegovy Q1 2026 sales were $18.2 billion Danish kroner (+12% YoY).
Q2 2026 earnings from the peptide-and-obesity big three arrive next week. Merck (NYSE: MRK) reports Tuesday August 4 before market open with analyst consensus at $1.36 diluted EPS (down 36.2% year-over-year from $2.13 in Q2 2025), reflecting post-Keytruda loss-of-exclusivity strategic repositioning and LIPFENDRA (enlicitide, oral macrocyclic peptide PCSK9 inhibitor approved July 16, 2026) launch costs. Eli Lilly (NYSE: LLY) reports Wednesday August 5 before market open with analyst consensus at $20.26 billion revenue and $6.71 EPS. Prediction markets put a 70% probability on another Lilly earnings beat, 96.4% odds Mounjaro (tirzepatide) clears $7.5 billion Q2, 87% odds Zepbound (tirzepatide) tops $4 billion Q2, and Foundayo (orforglipron, oral small-molecule GLP-1) weekly prescriptions near 20,000 as the primary analyst focus number after the April 2026 FDA approval. Novo Nordisk reports Wednesday August 5 H1 2026 results (Novo reports half-year rather than quarterly), with Wegovy pill (oral semaglutide 25/50 mg) Q1 2026 sales of approximately $354 million providing the H1 baseline. The three earnings prints together will frame second-half 2026 obesity market trajectory and the competitive positioning across incretin, macrocyclic peptide, and small-molecule oral GLP-1 franchises.
AbbVie (NYSE: ABBV) reported Q2 2026 earnings Friday July 31, 2026 before market open with total net revenues of $17 billion (+10.2% year-over-year), beating consensus by $300 million. Skyrizi (risankizumab, IL-23p19 monoclonal antibody for psoriasis, psoriatic arthritis, and inflammatory bowel disease) reached global Q2 net revenues of $5.505 billion (+24.4% YoY reported, +24.0% YoY operational). Rinvoq (upadacitinib, oral JAK1-selective inhibitor for rheumatoid arthritis, atopic dermatitis, and inflammatory bowel disease) reached global Q2 net revenues of $2.525 billion (+24.5% YoY reported, +23.7% YoY operational), with Rinvoq on pace for 30% growth in gastroenterology this year. AbbVie now expects the combined Skyrizi and Rinvoq franchise to generate approximately $32 billion in peak annual sales, with management anticipating combined peak sales for Rinvoq in vitiligo and alopecia areata to approach $2 billion. Humira (adalimumab, the anchor immunology franchise before biosimilar competition began in 2023) continued its expected decline at $756 million Q2 revenue, -35.9% YoY reported / -36.1% YoY operational. The neuroscience portfolio delivered approximately 20% Q2 growth with Vraylar, Botox Therapeutic, Ubrelvy, and Qulipta all achieving double-digit sales growth. Full-year 2026 guidance was reiterated at $14.08-14.28 adjusted EPS on approximately $67 billion in revenue.
Alnylam Pharmaceuticals (NASDAQ: ALNY) reported Q2 2026 earnings Thursday July 30, 2026 before market open. Amvuttra (vutrisiran) quarterly revenue crossed $1 billion for the first time at $1.012 billion (approximately a $4 billion annualized run rate approximately 15 months after the ATTR-CM launch). Total Q2 revenue reached $1.29 billion (+67% year-over-year) but fell short of the $1.31 billion analyst consensus. Net product revenues were $1.17 billion (+74% YoY) versus the $1.22 billion estimate. GAAP diluted EPS was $1.21 versus the $1.49 estimate. Full-year 2026 TTR product sales guidance was revised down to $4.2-4.5 billion to reflect normalized second-line volume after the initial pent-up demand from patients waiting for a new therapy. Pipeline updates: Alnylam expects to announce clinical data from Phase 1 and Phase 2 trials of ALN-6400 in healthy volunteers and patients with hereditary hemorrhagic telangiectasia (HHT) in second-half 2026, plus results from the Phase 1 trial of ALN-2232 (Alnylam's second obesity-track siRNA) in the same second-half window. The ALN-6222 obesity siRNA Phase 1 trial (NCT07624071) opened enrollment in July 2026 with a first-in-human single-ascending-dose design in adults with BMI 30-40 kg/m² at a single site in Mount Royal, Canada through December 2027.
Sanofi (NASDAQ: SNY) reported Q2 2026 earnings Thursday July 30, 2026 with net sales of €11,597 million (+17.8% at constant exchange rates, +16.0% at actual rates) and business EPS of €2.09 (+33.3% CER), both beating consensus. Growth drivers: Dupixent (dupilumab, IL-4/IL-13 receptor blocking antibody co-marketed with Regeneron) reached Q2 sales of €5,154 million (+37.6% CER); new pharma launches reached €1,305 million (+48.3% CER). Sanofi raised full-year 2026 guidance: sales now expected to grow approximately 10% at CER, with business EPS at CER expected to grow slightly faster than sales. Three pipeline discontinuations disclosed with the earnings release: amlitelimab (OX40-ligand monoclonal antibody previously advanced in atopic dermatitis after acquisition from Kymab; the intangible asset was impaired by €952 million with an announced decision that the drug would not represent a substantial improvement to the standard of care), itepekimab (IL-33 antibody previously advanced in COPD, chronic urticaria, and other Type 2 inflammation indications), and balinatunfib. Stock reaction was mixed with Sanofi shares slipping in premarket trading on the pipeline setbacks despite the earnings beat.
Biogen (NASDAQ: BIIB) reported Q2 2026 earnings before market open Wednesday July 29, 2026 with total revenue of $2.74 billion (+3% year-over-year), GAAP diluted EPS of $0.66, and non-GAAP diluted EPS of $3.60, beating Wall Street consensus. Growth-portfolio drugs (LEQEMBI, SKYCLARYS, SYFOVRE, and EMPAVELI) delivered year-over-year growth and, in aggregate, growth-portfolio revenue exceeded $1 billion for the quarter, surpassing Biogen's legacy multiple sclerosis franchise. Two major pipeline milestones anchored the earnings call: the FDA approved LEQEMBI IQLIK (lecanemab-irmb, a subcutaneous autoinjector formulation) for at-home initiation dosing (following the earlier approval of LEQEMBI IQLIK for maintenance dosing), providing patient-friendly dosing throughout the treatment course; and the Apellis acquisition that closed May 14, 2026 contributed $128 million in combined SYFOVRE (pegcetacoplan intravitreal, for geographic atrophy) and EMPAVELI (pegcetacoplan subcutaneous, for paroxysmal nocturnal hemoglobinuria and C3 glomerulopathy) revenue in the partial quarter. Biogen expects approximately 0.85 EPS dilution from the Apellis acquisition in 2026 with accretion in 2027 and estimated run-rate synergies of at least $250 million exiting 2027. 2026 revenue guidance raised to mid-single-digit growth with non-GAAP EPS guidance of $12-13.