RESEARCH TRIANGLE PARK – Three life science firms which have big operations in North Carolina reported some good news in their quarterly financial updates.

  • PPD

PPD (Nasdaq:PPD), which is based in Wilmington and a major presence in RTP, reported a 20% increase in revenue compared to the same quarter in 2019.

“Our commercial and financial results were strong again this quarter,” said David Simmons, PPD’s chairman and CEO. “We have continued to focus on executing for our customers as we navigate through the pandemic. This is evident in our continued momentum with double-digit growth in net authorizations, revenue and adjusted EBITDA over last year. Furthermore, we are proud that PPD is continuing to play a leading role in the development of vaccines and therapies for COVID-19, now having won more than 140 awards for work associated with the virus.”

  • Pfizer

Drugmaker Pfizer (NYSE: PFE), one of the leaders in the race to develop a COVID-19 vaccine, is tweaking its timeline for when it will know if its experimental two-dose shot works. Pfizer executives had expected data from their 44,000-person international study would show by Oct. 31 how well it prevents coronavirus infections. But on a conference call Tuesday to discuss the company’s third-quarter results, Chief Executive Albert Bourla said the answer may not come until next week. Pfizer saw its third-quarter profit plunge 71%, mainly due to an $8.1 billion gain a year earlier. Still, Pfizer raised its profit forecasts slightly for 2020.

  • Merck

Drugmaker Merck (NYSE: MRK), bouncing back from a $1.6 billion hit from the coronavirus pandemic in the second quarter, boosted its third-quarter profit by 55% and blew past Wall Street expectations. The strong result was due to sales slightly higher than a year ago, plus restrained spending. The Kenilworth, New Jersey, company on Tuesday said it’s making progress on three efforts to combat the coronavirus pandemic: two vaccines and an antiviral drug. Merck entered the race to fight COVID-19 later than other top drugmakers, but is focusing on creating medicines that are easier to administer and based on proven technologies.