Pharma Industry News

STAT+: Pfizer beats earnings expectations in first report after criticism by activist investor

Pfizer released earnings Tuesday that handily beat analyst expectations in the company’s first quarterly report since an activist investor took a $1 billion stake in the drug giant and began putting pressure on its board and CEO.

Pfizer reported adjusted earnings per share, a key metric watched by analysts at investment banks, of $1.06 per share compared to expectations of $0.60 per share among analysts surveyed by Visible Alpha.

Total sales for the quarter were $17.7 billion, compared to expectations of roughly $16 billion. Pfizer raised full-year 2024 guidance to between $61 billion to $64 billion, a 4% increase for already raised guidance in the third quarter. For the full year, adjusted earnings per share will be between $2.75 and $2.95 a share, the company said.
Continue to STAT+ to read the full story…

Pfizer released earnings Tuesday that handily beat analyst expectations in the company’s first quarterly report since an activist investor took a $1 billion stake in the drug giant and began putting pressure on its board and CEO.

Pfizer reported adjusted earnings per share, a key metric watched by analysts at investment banks, of $1.06 per share compared to expectations of $0.60 per share among analysts surveyed by Visible Alpha.

Total sales for the quarter were $17.7 billion, compared to expectations of roughly $16 billion. Pfizer raised full-year 2024 guidance to between $61 billion to $64 billion, a 4% increase for already raised guidance in the third quarter. For the full year, adjusted earnings per share will be between $2.75 and $2.95 a share, the company said.

Continue to STAT+ to read the full story…

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David Miller

a pharmacist, a tech enthusiastic, who explored the Internet to gather all latest information pharma, biotech, healthcare and other related industries.

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