In biotech news, Merck reported strong fourth-quarter earnings and a forecast for 2024 sales with an increase of 6%, while Roche and Sanofi also reported their earnings. The biotech industry is affected by the Federal Reserve’s decision not to cut interest rates, causing a 2% dip in the XBI index. Bluebird Bio’s financial results will reveal if gene therapy can be profitable, while Novavax struggles and has to rely on booster demand to stay in business. Thermo Fisher Scientific’s lowered financial forecast also indicates the biotech sector’s decline.
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The latest on Novavax, Merck, Bluebird
