#바이오·제약 Analysis Reports
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Moderna reported 2025 revenue of $1.944 billion (down from $3.236 billion the prior year) and a GAAP net loss of $2.822 billion (10-K, filed 2026-02-20). Q1 2026 revenue was $389 million, with a GAAP net loss of $1.343 billion, which included a $900 million non-recurring charge for the Arbutus/Genevant patent litigation settlement (8-K, 2026-05-01). The seasonal flu vaccine mRNA-1010 (mFLUSIVA) received a unanimous 9-0 vote from the FDA advisory committee (VRBPAC) on 2026-06-18 that benefits outweigh risks, with the FDA's final decision (PDUFA) due 2026-08-05. Q2 2026 results are scheduled for release on 2026-07-31.
Iovance Biotherapeutics reported Q2 results on 2026-08-06, posting revenue of USD 99.3 million (above the market consensus of USD 87.8 million, up 66% year-over-year). Amtagvi revenue was approximately USD 91 million, exceeding the high end of the company's own guidance, and gross margin reached a record 56%. On the same day, the company disclosed that the FDA had granted Fast Track Designation to lifileucel for soft tissue sarcoma. The company stated it is reviewing its existing FY2026 annual revenue guidance (USD 350-370 million) and plans to update it at the Q3 earnings release.
As of July 2026, Merck is a global pharmaceutical company with an oncology and vaccine portfolio centered on the immuno-oncology drug Keytruda, and reported Q2 2026 revenue of $25.310 billion (+6.6% year over year) and Non-GAAP adjusted EPS of $2.90 (+4.7% year over year). Over the same period, Keytruda saw continued regulatory and clinical progress, including meeting the primary endpoint in a Phase 3 endometrial cancer trial (7/15), an expanded bladder cancer indication approval (7/10), and approval of the oral PCSK9 inhibitor LIPFENDRA (7/16). The 2026-07-20 close was $124.40, down -2.43% from the prior close of $127.50, with volume of 7,729,047 shares.
Alteogen's business model is licensing out its biopharmaceutical platform technology (Hybrozyme·ALT-B4), which converts intravenous (IV) formulations into subcutaneous (SC) formulations, to multiple global pharmaceutical companies; in 2025 it recorded consolidated revenue of KRW 215.9 billion (+109.9% YoY) and operating profit of KRW 106.9 billion (operating margin 49.5%). On 2026-07-16 the board of directors tentatively postponed pursuit of a KOSPI transfer listing and decided on a bonus issue of 0.3 new shares per common share (30%). The 2026-07-24 closing price was KRW 300,500 (-0.83% vs previous day), with a market capitalization of KRW 16.0869 trillion (based on 53,533,843 shares outstanding).
Eli Lilly and Company reported Q1 2026 revenue of $19.8 billion (+56% year-over-year), with combined Mounjaro and Zepbound revenue of $12.8 billion. On April 1, 2026, the FDA approved Foundayo (orforglipron), the world's first oral small-molecule GLP-1 receptor agonist, for obesity/overweight indications. On July 16, 2026, Lilly announced it had entered into an agreement to acquire AtaiBeckley Inc. to strengthen its neuroscience pipeline, and on July 14 the FDA converted Retevmo (selpercatinib)'s RET fusion-positive solid tumor indication from accelerated to full approval.
Johnson & Johnson reported Q2 2026 (quarter ended June 28) revenue of USD 25.31 billion (+6.6% year over year) and Adjusted EPS of USD 2.90 (above the consensus of USD 2.86), and raised its full-year 2026 revenue guidance to a midpoint of USD 101.1 billion (+7.3%) (company release, 2026-07-15). The Innovative Medicine segment drove overall growth through follow-on products such as Darzalex and Tremfya, even as Stelara revenue declined amid biosimilar competition (from USD 10.3 billion in 2024 to USD 6.1 billion in 2025, -42.7%). Over the same period, talc baby powder litigation remained active, with 60,792 cases pending in the New Jersey multidistrict litigation (MDL) as of July 2026, and on 2026-07-10 the Illinois Appellate Court affirmed a USD 45 million damages verdict.
LabGenomics is a KOSDAQ-listed healthcare company focused on in vitro diagnostics (IVD), molecular diagnostics, and NGS genetic testing. In 2023-2024, it acquired four U.S. CLIA labs (QDx and three labs under IMD) for approximately 900억원, expanding its U.S. diagnostic services business. On 2026-08-04, it was reported that the company held a national sales meeting attended by its nationwide U.S. sales staff at its New Jersey laboratory, consolidating two CLIA labs under a single brand and newly appointing Tim Murray as Vice President of Sales (Newspim, 2026-08-04). Consolidated revenue for fiscal year 2025 was 882억원 with a net loss of 643억원 (Business Report, fiscal year-end 2025-12-31), and in Q1 2026 revenue was 179.28억원 (down approximately -18% year-on-year) with an operating loss of 41.78억원. The largest shareholder group (Ruha Private Equity · Ruha Galacticos) expanded its combined stake with special related parties from 24.21% to 28.06% through three on-market purchases between May and July 2026 (DART Report on Large Shareholding).