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Benzinga
Benzinga
Business
Shanthi Rexaline

Cathie Wood's Ark Invest Sheds Stake In This Large-Cap Pharma Ahead Of Earnings

Ark Invest ARK Cathie Wood

Big pharma reporting season was muted, with the quarterly results and guidance coming in mixed.

Merck & Co Inc (NYSE:MRK) shares pulled back despite the company reporting this week above-consensus results, with the negative reaction reflecting investors concerns over the sustainability of its oral COVID-19 pill revenues. Roche Holding AG (OTC:RHHBY) also pulled back as the Swiss pharma giant flagged slowing COVID testing revenues.

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