Alnylam Pharmaceuticals Lowers 2020 Sales Expectations Due to COVID-19
On Wednesday, Alnylam Pharmaceuticals (NASDAQ: ALNY) reported first-quarter results that showed impressive sales growth for its recently launched drugs. Unfortunately, the COVID-19 pandemic has watered down the launch of its lead drug, Onpattro, and the company isn't quite as confident about its sales trajectory for the rest of the year.
In February, Alnylam told investors it expected that sales of Onpattro would reach between $285 million and $315 million in 2020, and the company began the year on pace to hit that range. During Q1, Onpattro sales soared 154% year over year to an annualized $267 million, but the company now expects sales will level off for the rest of the year.
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Source Fool.com
