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Sep 30, 2022
Innoviva Q3 2022 Earnings Report
Reported third quarter 2022 financial results and highlighted recent company progress.
Key Takeaways
Innoviva reported strong revenue from its diversified core royalty business despite challenging market conditions. The acquisitions of Entasis and La Jolla have given the company a strong footprint in the hospital and infectious disease space.
RELVAR®/BREO® ELLIPTA® global net sales grew slightly compared to third quarter 2021, with U.S. net sales growth compensating for foreign currency changes and a slowdown in non-U.S. markets.
ANORO® ELLIPTA® global net sales decreased by 15% compared to third quarter of 2021 mainly due to pricing pressures and foreign currency changes.
Innoviva advanced its strategy with the acquisitions of Entasis and La Jolla, giving it a strong footprint in the hospital and infectious disease space.
The company remains committed to a disciplined, thoughtful, and thorough approach to capital allocation.
Forward Guidance
No forward guidance was provided in the press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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