Investing.com - Pfizer (NYSE:PFE) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Pfizer announced earnings per share of $2.04 on revenue of $27.74B. Analysts polled by Investing.com anticipated EPS of $1.71 on revenue of $25.26B.
Pfizer shares are down 12% from the beginning of the year, still down 15.82% from its 52 week high of $61.71 set on December 20, 2021. They are outperforming the S&P Global 100 which is down 13.83% from the start of the year.
Pfizer follows other major Healthcare sector earnings this month
Pfizer's report follows an earnings beat by UnitedHealth on July 15, who reported EPS of $5.57 on revenue of $80.33B, compared to forecasts EPS of $5.21 on revenue of $79.68B.
J&J had beat expectations on July 19 with second quarter EPS of $2.59 on revenue of $24.02B, compared to forecast for EPS of $2.54 on revenue of $23.77B.
Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
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REKLAMA
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Is Pfizer a Buy Before New Omicron Boosters Roll Out?
Pfizer Inc. (PFE - Get Rating) discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas.
On August 8, 2022, PFE declared that it would acquire the renowned biopharmaceutical company, Global Blood Therapeutics, Inc. (GBT), under a special agreement, for co-developing advanced treatment and support programs concerning Sickle Cell Disease. This is expected to diversify PFE’s portfolio.
In addition, the Food and Drug Administration plans to authorize updated versions of PFE’s omicron (covid variant) targeted booster doses around Labor Day. This fresh batch of vaccine rollouts might bring PFE under the spotlight once again.
Moreover, on June 29, 2022, PFE and BioNTech SE (BNTX) announced their new vaccine supply agreement with the U.S. government to support the continued fight against COVID-19 with 105 million additional doses.
However, PFE has lost 7.5% over the past month and 18.9% year-to-date to close the last trading session at $47.90. It has gained marginally in the past year.
Here is what could shape PFE’s performance in the near term:
Solid Financials
PFE’s revenues for the 2022 second quarter came in at $27.74 billion, up 46.8% year-over-year. Its revenue from vaccines came in at $10.46 billion, up 13.4% year-over-year. Moreover, its adjusted income came in at $11.66 billion, up 93.5% year-over-year, while its adjusted EPS came in at $2.04, up 92.5% year-over-year.
3 STOCKS TO DOUBLE THIS YEAR
In addition, PFE’s dividend payouts have grown at a 5.9% CAGR over the past five years. Its current dividend yield amounts to 3.37%, while its four-year average yield is 3.60%.
Attractive Valuations
PFE’s forward EV/S of 2.69x is 36.8% lower than the industry average of 4.26x. Its forward EV/EBITDA of 5.93x is 57.5% lower than the industry average of 13.96x.
Furthermore, its forward EV/EBIT of 6.62x is 61.3% lower than the industry average of 17.12x. Also, its forward P/S of 2.62x is 47.4% lower than the industry average of 4.98x.
Robust Profit Margins
PFE’s trailing-12-month gross profit margin of 62.75% is 14.6% higher than the industry average of 54.74%. Its trailing-12-month EBIT and EBITDA margins of 38.05% and 42.97% are significantly higher than the industry averages of 0.17% and 3.67%, respectively.
Also, its trailing-12-month net income margin of 28.94% is higher than the negative industry average of 2.40%. In addition, the stock’s trailing-12-month ROCE, ROTC, and ROTA of 37.50%, 20.28%, and 15.01%, compare with the negative industry averages of 38.46%, 21.27%, and 29.64%, respectively.
POWR Ratings Reflect Promising Outlook
PFE has an overall rating of A, which equates to Strong Buy in our proprietary POWR Ratings system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The stock has an A grade for Value, in sync with its lower-than-industry valuation multiples. It has a B grade for Quality, consistent with its higher-than-industry profitability margins.
In the 167-stock Medical – Pharmaceuticals industry, PFE is ranked #10.
Click here for the additional POWR Ratings for PFE (Growth, Momentum, Stability, and Sentiment).
View all the top stocks in the Medical – Pharmaceuticals industry here.
Bottom Line
Pharmaceutical veteran company PFE has been a significant beneficiary of the pandemic with its vaccine rollout, reaping fortunes. And with the new Omicron booster rollouts ahead, the company is expected to garner massive returns.
Analysts expect its revenue and EPS to increase 23.5% and 46.8% year-over-year to $100.41 billion and $6.49 in 2022. Also, Wall Street analysts expect the stock to hit $56.40 in the near term, indicating a potential upside of 17.8%.
Given the favorable growth prospects, I think dividend-paying gem PFE is an ideal addition to your portfolio ahead of its omicron booster dose rollout.
How Does Pfizer Inc. (PFE) Stack Up Against its Peers?
While PFE has an overall POWR Rating of A, one might consider looking at its industry peers, Johnson & Johnson (JNJ - Get Rating), Novartis AG (NVS - Get Rating), and Bristol-Myers Squibb Company (BMY - Get Rating), which also have an overall A (Strong Buy) rating.
https://stocknews.com/news/pfe-jnj-nvs- ... -roll-out/
Pfizer Inc. (PFE - Get Rating) discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas.
On August 8, 2022, PFE declared that it would acquire the renowned biopharmaceutical company, Global Blood Therapeutics, Inc. (GBT), under a special agreement, for co-developing advanced treatment and support programs concerning Sickle Cell Disease. This is expected to diversify PFE’s portfolio.
In addition, the Food and Drug Administration plans to authorize updated versions of PFE’s omicron (covid variant) targeted booster doses around Labor Day. This fresh batch of vaccine rollouts might bring PFE under the spotlight once again.
Moreover, on June 29, 2022, PFE and BioNTech SE (BNTX) announced their new vaccine supply agreement with the U.S. government to support the continued fight against COVID-19 with 105 million additional doses.
However, PFE has lost 7.5% over the past month and 18.9% year-to-date to close the last trading session at $47.90. It has gained marginally in the past year.
Here is what could shape PFE’s performance in the near term:
Solid Financials
PFE’s revenues for the 2022 second quarter came in at $27.74 billion, up 46.8% year-over-year. Its revenue from vaccines came in at $10.46 billion, up 13.4% year-over-year. Moreover, its adjusted income came in at $11.66 billion, up 93.5% year-over-year, while its adjusted EPS came in at $2.04, up 92.5% year-over-year.
3 STOCKS TO DOUBLE THIS YEAR
In addition, PFE’s dividend payouts have grown at a 5.9% CAGR over the past five years. Its current dividend yield amounts to 3.37%, while its four-year average yield is 3.60%.
Attractive Valuations
PFE’s forward EV/S of 2.69x is 36.8% lower than the industry average of 4.26x. Its forward EV/EBITDA of 5.93x is 57.5% lower than the industry average of 13.96x.
Furthermore, its forward EV/EBIT of 6.62x is 61.3% lower than the industry average of 17.12x. Also, its forward P/S of 2.62x is 47.4% lower than the industry average of 4.98x.
Robust Profit Margins
PFE’s trailing-12-month gross profit margin of 62.75% is 14.6% higher than the industry average of 54.74%. Its trailing-12-month EBIT and EBITDA margins of 38.05% and 42.97% are significantly higher than the industry averages of 0.17% and 3.67%, respectively.
Also, its trailing-12-month net income margin of 28.94% is higher than the negative industry average of 2.40%. In addition, the stock’s trailing-12-month ROCE, ROTC, and ROTA of 37.50%, 20.28%, and 15.01%, compare with the negative industry averages of 38.46%, 21.27%, and 29.64%, respectively.
POWR Ratings Reflect Promising Outlook
PFE has an overall rating of A, which equates to Strong Buy in our proprietary POWR Ratings system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The stock has an A grade for Value, in sync with its lower-than-industry valuation multiples. It has a B grade for Quality, consistent with its higher-than-industry profitability margins.
In the 167-stock Medical – Pharmaceuticals industry, PFE is ranked #10.
Click here for the additional POWR Ratings for PFE (Growth, Momentum, Stability, and Sentiment).
View all the top stocks in the Medical – Pharmaceuticals industry here.
Bottom Line
Pharmaceutical veteran company PFE has been a significant beneficiary of the pandemic with its vaccine rollout, reaping fortunes. And with the new Omicron booster rollouts ahead, the company is expected to garner massive returns.
Analysts expect its revenue and EPS to increase 23.5% and 46.8% year-over-year to $100.41 billion and $6.49 in 2022. Also, Wall Street analysts expect the stock to hit $56.40 in the near term, indicating a potential upside of 17.8%.
Given the favorable growth prospects, I think dividend-paying gem PFE is an ideal addition to your portfolio ahead of its omicron booster dose rollout.
How Does Pfizer Inc. (PFE) Stack Up Against its Peers?
While PFE has an overall POWR Rating of A, one might consider looking at its industry peers, Johnson & Johnson (JNJ - Get Rating), Novartis AG (NVS - Get Rating), and Bristol-Myers Squibb Company (BMY - Get Rating), which also have an overall A (Strong Buy) rating.
https://stocknews.com/news/pfe-jnj-nvs- ... -roll-out/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Pfizer Inc. (NYSE: PFE) announced today the completion of its acquisition of Global Blood Therapeutics, Inc. (GBT), a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities starting with sickle cell disease (SCD). The acquisition reinforces Pfizer’s commitment to SCD, building on a 30-year legacy in the rare hematology space.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
NEW YORK (Reuters) - Pfizer Inc (NYSE:PFE) expects to charge about $110 to $130 per dose for its COVID-19 vaccine after the United States government's current program expires, Pfizer executive Angela Lukin said on a call with analysts.
Lukin said she expects the vaccine will be made available with no co-pay to people who have private insurance or government paid insurance.
The U.S. government currently provides the vaccine for free to all but pays about $30 per dose to Pfizer and German partner BioNTech SE (NASDAQ:BNTX). In 2023, the market is expected to move to private insurance after the U.S. public health emergency expires.
Lukin said she expects the vaccine will be made available with no co-pay to people who have private insurance or government paid insurance.
The U.S. government currently provides the vaccine for free to all but pays about $30 per dose to Pfizer and German partner BioNTech SE (NASDAQ:BNTX). In 2023, the market is expected to move to private insurance after the U.S. public health emergency expires.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Pfizer (NYSE: PFE) i niemiecki partner BioNTech (NASDAQ: BNTX) opublikowali w piątek więcej danych wskazujących na to, że szczepionki wzmacniające przeciwko wariantowi Omicron BA.5 działają lepiej niż stare szczepionki przeciwko koronawirusowi. Firmy poinformowały, że osoby w wieku powyżej 55 lat, które otrzymały nową dawkę przypominającą, miały około cztery razy więcej przeciwciał skierowanych przeciwko Omicronowi BA.5 niż osoby w tej samej grupie wiekowej, które otrzymały starą szczepionkę. Ponadto osoby w wieku od 18 do 55 lat, które otrzymały nową szczepionkę miały 9,5 razy więcej przeciwciał skierowanych przeciwko Omicronowi BA.5 niż osoby przed otrzymaniem szczepionki. Firmy Pfizer i BioNTech stwierdziły również, że u osób zarówno z, jak i bez wcześniejszych infekcji nastąpił znaczny wzrost poziomu przeciwciał po podaniu szczepionki. Jednak u osób, które nie miały wcześniejszych infekcji, wzrost poziomu przeciwciał był większy. Nowe dane pojawiły się po tym, jak dwa małe, niezależne badania z Columbii i Harvardu podały w wątpliwość skuteczność szczepionek.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Pfizer (NYSE:PFE) management presented at an investor conference yesterday and Chief Executive Albert Bourla is said to have reiterated plans for shaping Pfizer post-COVID.
Following the Pfizer presentation, Credit Suisse analysts told investors in a note that Pfizer focused on the non-COVID side of the business.
"For the non-COVID sales, Dr. Bourla reiterated its 2020-25 mid-term guide of +6% and also first-time longer-term 2025-30 guidance of 6-10%, which comes in ahead of consensus expectations," wrote the analysts, who maintained an Outperform rating and $55 price target on Pfizer. "For COVID, the CEO highlighted it will remain a large part of Pfizer's revenues, and sales will step up post-2023 as commercial pricing is introduced, and ultilisation increases from new Flu/COVID combinations."
JPMorgan analysts kept a Neutral rating on the stock, stating that with Pfizer's "expenses also expected to ramp in 2023, we would not be surprised to see shares range bound as the Street looks to better understand near-term core vs COVID sales/earnings dynamics."
"At the same time, we believe PFE's biz dev efforts in 2022 were a step in the right direction in terms of giving the market clarity on the company's longer-term growth prospects and further progress on this front would likely be well received," added the analysts.
Furthermore, Goldman Sachs analysts said Pfizer "appeared to acknowledge that larger biotech transactions (i.e. larger than the deals they did in 2022) would likely be a part of their M&A strategy over the course of the decade in order to hit their 2030 target of $25bn in revenues from business development."
They added that Goldman sees both the broader pipeline and capital allocation flexibility "offering significant optionality, and believe the stock can outperform even in a 'trough COVID' scenario."
Finally, BMO Capital told investors in a note: "Commentary on COVID revs were balanced, reflecting an expectation of uncertain but non-zero revs in the near future. Key topics included 1) growing revs via internal and external means; 2) overcoming lost revs from LOEs and COVID; and 3) pipeline assets and growth drivers that deserve emphasis."
Following the Pfizer presentation, Credit Suisse analysts told investors in a note that Pfizer focused on the non-COVID side of the business.
"For the non-COVID sales, Dr. Bourla reiterated its 2020-25 mid-term guide of +6% and also first-time longer-term 2025-30 guidance of 6-10%, which comes in ahead of consensus expectations," wrote the analysts, who maintained an Outperform rating and $55 price target on Pfizer. "For COVID, the CEO highlighted it will remain a large part of Pfizer's revenues, and sales will step up post-2023 as commercial pricing is introduced, and ultilisation increases from new Flu/COVID combinations."
JPMorgan analysts kept a Neutral rating on the stock, stating that with Pfizer's "expenses also expected to ramp in 2023, we would not be surprised to see shares range bound as the Street looks to better understand near-term core vs COVID sales/earnings dynamics."
"At the same time, we believe PFE's biz dev efforts in 2022 were a step in the right direction in terms of giving the market clarity on the company's longer-term growth prospects and further progress on this front would likely be well received," added the analysts.
Furthermore, Goldman Sachs analysts said Pfizer "appeared to acknowledge that larger biotech transactions (i.e. larger than the deals they did in 2022) would likely be a part of their M&A strategy over the course of the decade in order to hit their 2030 target of $25bn in revenues from business development."
They added that Goldman sees both the broader pipeline and capital allocation flexibility "offering significant optionality, and believe the stock can outperform even in a 'trough COVID' scenario."
Finally, BMO Capital told investors in a note: "Commentary on COVID revs were balanced, reflecting an expectation of uncertain but non-zero revs in the near future. Key topics included 1) growing revs via internal and external means; 2) overcoming lost revs from LOEs and COVID; and 3) pipeline assets and growth drivers that deserve emphasis."
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
(Reuters) - Pfizer Inc (NYSE:PFE) on Tuesday forecast a bigger-than-expected drop in sales of its COVID-19 vaccine and treatment for 2023, intensifying investor concerns over demand for the products as governments cut orders and work through inventories.
Chief Executive Albert Bourla said that 2023 should be a "transition year" for Pfizer's COVID products, before potentially returning to growth in 2024.
Pfizer's total annual sales crossed the $100 billion mark for the first time in 2022, driven by the more than $56 billion in sales of its COVID-19 vaccine and Paxlovid antiviral treatment. It expects total 2023 revenue of $67 billion to $71 billion.
"We are building on a significant capital position that we know how to deploy to create growth," Bourla told analysts and investors on conference call. "We are building an R&D engine that is more productive than ever."
The company launched five new products last year and hopes to introduce as many as 14 more over the next year and a half, including a vaccine for respiratory syncytial virus (RSV) and an mRNA flu vaccine.
Pfizer shares were down slightly at $43.53. The stock had tumbled 15% this month, through Monday's close.
Citi analyst Andrew Baum said the company is struggling to escape its dependence on COVID drugs.
"We see little here to change our cautious view on Pfizer's ex-COVID business," Baum said in a research note.
The decline in COVID-related revenue is not the only headwind Pfizer is facing.
The U.S. drugmaker will lose patent protections for some big-selling drugs after 2025, including cancer treatment Ibrance and arthritis drug Xeljanz, and has said it expects to lose $17 billion in annual sales between 2025 and 2030 due to patent expirations.
Pfizer has turned to acquisitions such as its $5.4 billion buyout of Global Blood Therapeutics (NASDAQ:GBT) Inc and its $11.6 billion purchase of migraine drugmaker Biohaven to bolster its pipeline of future products.
Citi's Baum said he expects Pfizer will use the spike in revenue from its COVID products to "intensify and upscale" its efforts to buy other companies or new products to fill its pipeline.
Excluding COVID-related sales, Pfizer expects 2023 revenue to grow 7% to 9%.
Pfizer developed its COVID-19 vaccine with German partner BioNTech, and the companies split the profits. Pfizer forecast 2023 sales of $13.5 billion for their vaccine, below analysts' estimates of $14.4 billion, and projected $8 billion in Paxlovid sales, short of Wall Street's expectation of $10.33 billion.
Bourla said the company expects to start selling its COVID vaccine Comirnaty through commercial channels in the United States in the second half of 2023, rather than selling the shots directly to the government. After that transition, the company hopes to roughly quadruple the U.S. price of the vaccine.
Analysts and investors have been looking for clarity on China demand for Paxlovid, where the drug is only covered by the country's broad healthcare insurance plan until late March.
Pfizer said its current 2023 forecast for sales does not assume any revenue from China after April 1, but Bourla said the company expects to offer Paxlovid in the private market there thereafter.
"There is still an opportunity for a market in China which could be meaningful" outside of the country's main insurance channels, said BMO Analyst Evan Seigerman.
Chief Executive Albert Bourla said that 2023 should be a "transition year" for Pfizer's COVID products, before potentially returning to growth in 2024.
Pfizer's total annual sales crossed the $100 billion mark for the first time in 2022, driven by the more than $56 billion in sales of its COVID-19 vaccine and Paxlovid antiviral treatment. It expects total 2023 revenue of $67 billion to $71 billion.
"We are building on a significant capital position that we know how to deploy to create growth," Bourla told analysts and investors on conference call. "We are building an R&D engine that is more productive than ever."
The company launched five new products last year and hopes to introduce as many as 14 more over the next year and a half, including a vaccine for respiratory syncytial virus (RSV) and an mRNA flu vaccine.
Pfizer shares were down slightly at $43.53. The stock had tumbled 15% this month, through Monday's close.
Citi analyst Andrew Baum said the company is struggling to escape its dependence on COVID drugs.
"We see little here to change our cautious view on Pfizer's ex-COVID business," Baum said in a research note.
The decline in COVID-related revenue is not the only headwind Pfizer is facing.
The U.S. drugmaker will lose patent protections for some big-selling drugs after 2025, including cancer treatment Ibrance and arthritis drug Xeljanz, and has said it expects to lose $17 billion in annual sales between 2025 and 2030 due to patent expirations.
Pfizer has turned to acquisitions such as its $5.4 billion buyout of Global Blood Therapeutics (NASDAQ:GBT) Inc and its $11.6 billion purchase of migraine drugmaker Biohaven to bolster its pipeline of future products.
Citi's Baum said he expects Pfizer will use the spike in revenue from its COVID products to "intensify and upscale" its efforts to buy other companies or new products to fill its pipeline.
Excluding COVID-related sales, Pfizer expects 2023 revenue to grow 7% to 9%.
Pfizer developed its COVID-19 vaccine with German partner BioNTech, and the companies split the profits. Pfizer forecast 2023 sales of $13.5 billion for their vaccine, below analysts' estimates of $14.4 billion, and projected $8 billion in Paxlovid sales, short of Wall Street's expectation of $10.33 billion.
Bourla said the company expects to start selling its COVID vaccine Comirnaty through commercial channels in the United States in the second half of 2023, rather than selling the shots directly to the government. After that transition, the company hopes to roughly quadruple the U.S. price of the vaccine.
Analysts and investors have been looking for clarity on China demand for Paxlovid, where the drug is only covered by the country's broad healthcare insurance plan until late March.
Pfizer said its current 2023 forecast for sales does not assume any revenue from China after April 1, but Bourla said the company expects to offer Paxlovid in the private market there thereafter.
"There is still an opportunity for a market in China which could be meaningful" outside of the country's main insurance channels, said BMO Analyst Evan Seigerman.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Undervalued Dividend Growth Stock of the Week: Pfizer (PFE)
by Jason Fieber, Mr. Free at 33 • March 12, 2023
https://dailytradealert.com/2023/03/12/ ... zer-pfe-3/
by Jason Fieber, Mr. Free at 33 • March 12, 2023
https://dailytradealert.com/2023/03/12/ ... zer-pfe-3/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Latest Release
May 02, 2023
EPS / Forecast
1.23 / 0.98
Revenue / Forecast
18.3B / 16.64B
May 02, 2023
EPS / Forecast
1.23 / 0.98
Revenue / Forecast
18.3B / 16.64B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
NEW YORK (Reuters) -Pfizer Inc Chief Executive Albert Bourla called U.S. plans to negotiate drug prices for its Medicare health program "negotiation with a gun to your head" and said he expects drugmakers to sue in an attempt to halt the process.
"It is not negotiation at all. It is price setting," Bourla said at a Reuters newsmaker event on Thursday, referring to the Biden Administration’s signature drug pricing reform, part of the Inflation Reduction Act (IRA). The law aims to save $25 billion through price negotiations by 2031 for Americans who pay more for medicines than any other country.
The pharmaceutical industry says the law, passed last year, will result in a loss of profits that will force drugmakers to pull back on developing groundbreaking new treatments.
The companies have begun laying the groundwork to fight the U.S. plan, Reuters reported earlier this week.
"I think that there will be legal action," he said, adding that he was not sure if that would stop the plan before new prices would go into effect in 2026. Bourla said he is also not optimistic that Congress will act to change the law.
Drugs likely to be among the first subject to negotiation include Pfizer (NYSE:PFE)'s breast cancer treatment Ibrance and the blood thinner Eliquis, which Pfizer shares with Bristol Myers (NYSE:BMY) Squibb.
Bourla did acknowledge some positive aspects of the law for patients, such as lower out-of-pocket costs for medicines.
Officials at the U.S. Centers for Medicare and Medicaid Services, which will oversee drug price talks, did not immediately respond to a request for comment.
Bourla is looking to shift Pfizer's focus from the COVID-19 vaccines and treatment that put the company at the forefront of the pandemic response and led to a once-in-a-lifetime surge in revenue.
The company is in the midst of a steep but expected fall in COVID product sales and is also preparing for declining revenue in coming years for some of its top-selling drugs as they begin to face competition from cheap generics.
As a result, investors are looking for Pfizer to produce new blockbuster drugs that can pull in billions every year, either from the company's own pipeline of medicines in development or through deals.
Bourla led Pfizer as the New York-based drugmaker raced alongside German partner BioNTech to develop a vaccine for COVID as much of the world locked down in 2020. The company also developed Paxlovid, a life-saving antiviral treatment for the disease.
The COVID products drove Pfizer's revenue to record levels, topping $100 billion in 2022 and $80 billion in 2021.
"Pfizer is giving all the profits that we made from COVID in '21 and '22 and what we will make in '23 to acquire technology and products that we believe will allow us to battle cancer," he said, calling the effort the drugmaker's "next moonshot."
'NOT ABOUT ABORTION PILLS'
Bourla has overseen a string of acquisitions to bolster Pfizer's drug pipeline, headlined by the $43 billion deal for Seagen, which makes complex targeted cancer therapies.
The drugmaker also spent billions on its purchases of migraine drugmaker Biohaven Pharmaceutical, ulcerative colitis drug developer Arena Pharmaceuticals, and Global Blood Therapeutics (NASDAQ:GBT), maker of a sickle cell disease treatment.
Bourla said he anticipates only doing modestly-sized deals in the near-term as he concentrates on the Seagen integration.
As the company works to develop new drugs, Bourla raised concerns about a recent ruling by a judge in Texas that suspended abortion pill mifepristone's 2000 approval by the U.S. Food and Drug Administration. The U.S. Supreme Court put that order on hold, leaving the drug used in more than half of U.S. abortions on the market while the case is appealed.
Bourla signed an open letter by hundreds industry executives calling on the Supreme Court to reverse the Texas judge's decision. On Thursday, he called the FDA "the most iconic regulatory body in the world," and said citizens can trust that the regulators have done the work to confirm whether drugs are safe.
"This is not about abortion pills... It has to do with the ability of a judge to say whether a medicine is safe and effective," Bourla said. "That undermines the whole system of trust."
"It is not negotiation at all. It is price setting," Bourla said at a Reuters newsmaker event on Thursday, referring to the Biden Administration’s signature drug pricing reform, part of the Inflation Reduction Act (IRA). The law aims to save $25 billion through price negotiations by 2031 for Americans who pay more for medicines than any other country.
The pharmaceutical industry says the law, passed last year, will result in a loss of profits that will force drugmakers to pull back on developing groundbreaking new treatments.
The companies have begun laying the groundwork to fight the U.S. plan, Reuters reported earlier this week.
"I think that there will be legal action," he said, adding that he was not sure if that would stop the plan before new prices would go into effect in 2026. Bourla said he is also not optimistic that Congress will act to change the law.
Drugs likely to be among the first subject to negotiation include Pfizer (NYSE:PFE)'s breast cancer treatment Ibrance and the blood thinner Eliquis, which Pfizer shares with Bristol Myers (NYSE:BMY) Squibb.
Bourla did acknowledge some positive aspects of the law for patients, such as lower out-of-pocket costs for medicines.
Officials at the U.S. Centers for Medicare and Medicaid Services, which will oversee drug price talks, did not immediately respond to a request for comment.
Bourla is looking to shift Pfizer's focus from the COVID-19 vaccines and treatment that put the company at the forefront of the pandemic response and led to a once-in-a-lifetime surge in revenue.
The company is in the midst of a steep but expected fall in COVID product sales and is also preparing for declining revenue in coming years for some of its top-selling drugs as they begin to face competition from cheap generics.
As a result, investors are looking for Pfizer to produce new blockbuster drugs that can pull in billions every year, either from the company's own pipeline of medicines in development or through deals.
Bourla led Pfizer as the New York-based drugmaker raced alongside German partner BioNTech to develop a vaccine for COVID as much of the world locked down in 2020. The company also developed Paxlovid, a life-saving antiviral treatment for the disease.
The COVID products drove Pfizer's revenue to record levels, topping $100 billion in 2022 and $80 billion in 2021.
"Pfizer is giving all the profits that we made from COVID in '21 and '22 and what we will make in '23 to acquire technology and products that we believe will allow us to battle cancer," he said, calling the effort the drugmaker's "next moonshot."
'NOT ABOUT ABORTION PILLS'
Bourla has overseen a string of acquisitions to bolster Pfizer's drug pipeline, headlined by the $43 billion deal for Seagen, which makes complex targeted cancer therapies.
The drugmaker also spent billions on its purchases of migraine drugmaker Biohaven Pharmaceutical, ulcerative colitis drug developer Arena Pharmaceuticals, and Global Blood Therapeutics (NASDAQ:GBT), maker of a sickle cell disease treatment.
Bourla said he anticipates only doing modestly-sized deals in the near-term as he concentrates on the Seagen integration.
As the company works to develop new drugs, Bourla raised concerns about a recent ruling by a judge in Texas that suspended abortion pill mifepristone's 2000 approval by the U.S. Food and Drug Administration. The U.S. Supreme Court put that order on hold, leaving the drug used in more than half of U.S. abortions on the market while the case is appealed.
Bourla signed an open letter by hundreds industry executives calling on the Supreme Court to reverse the Texas judge's decision. On Thursday, he called the FDA "the most iconic regulatory body in the world," and said citizens can trust that the regulators have done the work to confirm whether drugs are safe.
"This is not about abortion pills... It has to do with the ability of a judge to say whether a medicine is safe and effective," Bourla said. "That undermines the whole system of trust."
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Pfizer (NYSE:PFE) reported better-than-expected results for its second quarter.
The pharma giant reported a profit per share of 67 cents on revenue of $12.7 billion, beating the analyst consensus for a profit per share of 57 cents on revenue of $12.08B. Overall, revenue fell 54% year-over-year amid a major decline in COVID-19-related sales.
Dr. Albert Bourla, Chairman and Chief Executive Officer, stated: “We look forward to continuing our progress in the second half of 2023, driven by commercial execution, scientific innovation and our never-ending commitment to delivering breakthroughs for patients.”
The company sees full-year EPS at $3.35 on revenue of $68.5B. Analysts were looking for EPS of $3.01 on revenue of $61B.
...
(Reuters) -Pfizer will launch a cost-cutting program if demand for its COVID-19 products keeps underperforming expectations this fall, the U.S. drugmaker said on Tuesday, after sales for the vaccine and the pill slumped during the second quarter.
The company expects 2023 to be a low point for COVID product sales after windfall gains at the peak of the pandemic, and a potential return to growth next year.
Pfizer (NYSE:PFE) said on Tuesday it anticipates more clarity for COVID revenue in the second half on a likely rise in infections in the fall season and the U.S. switching to a commercial market for the products from government contracts.
"To that end, if our COVID-19 revenues are less than what we assumed, we are prepared to launch an enterprise-wide cost improvement program," CFO David Denton said.
Sales of the COVID-19 vaccine, Comirnaty, fell 83% to $1.49 billion in the second quarter, but came in above analysts' estimates of $1.40 billion.
Revenue from its antiviral treatment, Paxlovid, tumbled 98% to $143 million, compared with estimates of $1.08 billion.
Pfizer trimmed the upper end of its annual revenue forecast by $1 billion to $70 billion.
The drugmaker is also navigating damage to a warehouse at its Rocky Mount facility from a tornado, a narrower-than-expected recommendation for its RSV vaccine, as well as worries its recently approved cancer drug Talzenna would reach a smaller-than-anticipated patient population.
Meanwhile, Pfizer is preparing for many of its top-selling drugs soon facing competition from cheaper generics and has responded through billion-dollar acquisitions such as the $43 billion deal for cancer-therapy specialist Seagen.
Total revenue for the second quarter fell 54% to $12.73 billion, missing Refinitiv estimates of $13.27 billion.
Excluding items, Pfizer reported a profit of 67 cents per share, while analysts had expected 57 cents.
The company's shares fell marginally to $35.9 in early trading.
The pharma giant reported a profit per share of 67 cents on revenue of $12.7 billion, beating the analyst consensus for a profit per share of 57 cents on revenue of $12.08B. Overall, revenue fell 54% year-over-year amid a major decline in COVID-19-related sales.
Dr. Albert Bourla, Chairman and Chief Executive Officer, stated: “We look forward to continuing our progress in the second half of 2023, driven by commercial execution, scientific innovation and our never-ending commitment to delivering breakthroughs for patients.”
The company sees full-year EPS at $3.35 on revenue of $68.5B. Analysts were looking for EPS of $3.01 on revenue of $61B.
...
(Reuters) -Pfizer will launch a cost-cutting program if demand for its COVID-19 products keeps underperforming expectations this fall, the U.S. drugmaker said on Tuesday, after sales for the vaccine and the pill slumped during the second quarter.
The company expects 2023 to be a low point for COVID product sales after windfall gains at the peak of the pandemic, and a potential return to growth next year.
Pfizer (NYSE:PFE) said on Tuesday it anticipates more clarity for COVID revenue in the second half on a likely rise in infections in the fall season and the U.S. switching to a commercial market for the products from government contracts.
"To that end, if our COVID-19 revenues are less than what we assumed, we are prepared to launch an enterprise-wide cost improvement program," CFO David Denton said.
Sales of the COVID-19 vaccine, Comirnaty, fell 83% to $1.49 billion in the second quarter, but came in above analysts' estimates of $1.40 billion.
Revenue from its antiviral treatment, Paxlovid, tumbled 98% to $143 million, compared with estimates of $1.08 billion.
Pfizer trimmed the upper end of its annual revenue forecast by $1 billion to $70 billion.
The drugmaker is also navigating damage to a warehouse at its Rocky Mount facility from a tornado, a narrower-than-expected recommendation for its RSV vaccine, as well as worries its recently approved cancer drug Talzenna would reach a smaller-than-anticipated patient population.
Meanwhile, Pfizer is preparing for many of its top-selling drugs soon facing competition from cheaper generics and has responded through billion-dollar acquisitions such as the $43 billion deal for cancer-therapy specialist Seagen.
Total revenue for the second quarter fell 54% to $12.73 billion, missing Refinitiv estimates of $13.27 billion.
Excluding items, Pfizer reported a profit of 67 cents per share, while analysts had expected 57 cents.
The company's shares fell marginally to $35.9 in early trading.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Latest Release
Aug 01, 2023
EPS / Forecast
0.67 / 0.57
Revenue / Forecast
12.7B / 12.08B
Pfizer (NYSE:PFE) we wtorek spadł o 1,3% po tym, jak gigant farmaceutyczny podał lepsze niż oczekiwano Wyniki Q2, ale także powiedział, że przychody gwałtownie spadły w związku z dużym spadkiem sprzedaży związanej z COVID.
Firma obniżyła również całoroczne prognozy przychodów, ostrzegając przed "krótkoterminowymi wyzwaniami związanymi z przychodami": obecnie spodziewa się sprzedaży w wysokości od 67 mld USD do 70 mld USD, przy czym górna część zostanie zmniejszona o 1 mld USD w porównaniu z poprzednim zakresem. Analitycy oczekują 61 mld USD.
W III kwartale Pfizer zaksięgował zysk na akcję w wysokości 3,0 USD przy przychodach w wysokości 67,12 mld USD, pokonując konsensus analityków na poziomie 7,0 USD przy przychodach w wysokości 57,12 mld USD, według analityków ankietowanych przez InvestingPro.
Firma widzi całoroczny zysk na akcję na poziomie 3,35 USD, lepszy niż oczekiwano na 3,01 USD.
Dyrektor generalny dr Albert Bourla powiedział, że firma oczekuje "kontynuacji naszych postępów w drugiej połowie 2023 roku".
Po tych liczbach kilka firm - w tym JPMorgan, Morgan Stanley i Wells Fargo - utrzymało neutralne ratingi akcji, z cenami docelowymi w przedziale od 38 do 40 USD. Truist i BMO Capital nadal nazywają Pfizera kupnem.
Aug 01, 2023
EPS / Forecast
0.67 / 0.57
Revenue / Forecast
12.7B / 12.08B
Pfizer (NYSE:PFE) we wtorek spadł o 1,3% po tym, jak gigant farmaceutyczny podał lepsze niż oczekiwano Wyniki Q2, ale także powiedział, że przychody gwałtownie spadły w związku z dużym spadkiem sprzedaży związanej z COVID.
Firma obniżyła również całoroczne prognozy przychodów, ostrzegając przed "krótkoterminowymi wyzwaniami związanymi z przychodami": obecnie spodziewa się sprzedaży w wysokości od 67 mld USD do 70 mld USD, przy czym górna część zostanie zmniejszona o 1 mld USD w porównaniu z poprzednim zakresem. Analitycy oczekują 61 mld USD.
W III kwartale Pfizer zaksięgował zysk na akcję w wysokości 3,0 USD przy przychodach w wysokości 67,12 mld USD, pokonując konsensus analityków na poziomie 7,0 USD przy przychodach w wysokości 57,12 mld USD, według analityków ankietowanych przez InvestingPro.
Firma widzi całoroczny zysk na akcję na poziomie 3,35 USD, lepszy niż oczekiwano na 3,01 USD.
Dyrektor generalny dr Albert Bourla powiedział, że firma oczekuje "kontynuacji naszych postępów w drugiej połowie 2023 roku".
Po tych liczbach kilka firm - w tym JPMorgan, Morgan Stanley i Wells Fargo - utrzymało neutralne ratingi akcji, z cenami docelowymi w przedziale od 38 do 40 USD. Truist i BMO Capital nadal nazywają Pfizera kupnem.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
This Stock Yields 4.5% and is a ‘Once in a Decade’ Bargain
Ta akcja daje 4,5% dwwidendy i jest okazją "raz na dekadę"
Cough. Cough. “This latest variant is legit,” I sputtered to my wife.
This was a school year and a half ago. The kids were home sick—again. Our little super spreaders had kindly brought home the latest coronavirus model.
Or so I thought. We soon learned it was Respiratory Syncytial Virus (RSV) going around town. RSV is highly contagious and, while the Internet lists its symptoms as mild, it wouldn’t be my choice for our next family illness. RSV lingers like an out-of-town relative without a return flight.
Generally, RSV runs its course. But it’s nearly impossible to avoid unless you avoid people—which may or may not be an option.
Enter Abryvso, a new RSV vaccine which gained FDA approval for pregnant women last week. Infants are susceptible to respiratory illness from the virus—so parents may opt to get mom vaccinated so that immunity is passed to the infant. (Abryvso was approved for individuals 60 and older in age in May.)
Abryvso is a creation of “vaccine machine” Pfizer (PFE). And while this isn’t an ad for the shot, it is a commercial for PFE the stock.
The blue-chip pharma stock trades for less than 10-times earnings. It yields 4.5%, which beats the 10-year Treasury. PFE goes on sale like this once in a blue moon. When the stars align, we call out the PFE bargain in these pages.
As we did the last time the stock was this cheap in April 2020. (Sigh. The obligatory sigh when anyone mentions 2020.) Back then, I said it was a once in a decade sale. My bad—three years later, PFE is cheap again, paying 4.5%.
I know, I know. Four-and-a-half isn’t the 8% “No Withdrawal” type of yield we’re used to. But this is Pfizer, and four-plus is about as good as it gets.
Before that, we can look to 2009 and 1987 as other times that PFE was this cheap. After the stock market crash of 1987, PFE shares yielded 4.3%. That was, needless to say, a great time to buy the stock. What happened?
March ’09 was another bargain moment in PFE. Investors who dumpster dived for Pfizer locked in an incredible double-digit yield. They also quadrupled their investment over the next 11 years.
Well, here we go again. PFE yields 4.5%. Anytime it pays 4.5% or more, it proves to be a screaming deal.
We had more chances to buy PFE at these divvy levels even after the financial crisis, the most recent in October 2011. Shares took off, and the drug maker’s yearly dividend raises couldn’t keep up:
Recent Times PFE Paid 4.5%+
Since the start of 2010, PFE has paid more every year—up 128%! It’s a buy-and-hold investors’ dream, but we can do even better with some light market timing. Like buying PFE only when it pays 4.5% or more, “bottomy” opportunities indicated by the arrows above!
Worries about PFE’s pipeline persist through the decades. Wall Street pundits—with biology expertise that peaked in high school—lament the firm’s lack of future blockbuster drugs. A dry pipeline is usually the refrain.
Pharma sentiment swings quickly. Just 19 months ago, PFE shares were peaking so the stock paid only 2.1%. Bullish euphoria from the company’s widely distributed COVID vaccine hit a high point.
The yield was quite a contrarian indicator! Shares were clearly dear. Two dividend raises later, the price dropped and the stock is cheap, trading for less than ten times earnings.
Vanilla investors, ironically, aren’t interested. The herd bought the blue chip at 2.1% but ignore 4.5%!
Sure, PFE’s headline numbers are lackluster, with revenues sliced in half as demand for its COVID vaccines and pills fade. But its non-COVID products are being fast tracked. The stock is at an inflection point where new products will take the baton.
We contrarians are happy to consider the bargain. Sure, the stock market is in the middle of a correction. We’ve been waiting for this, favoring boring dividend payers.
The beauty of PFE today is that it has already been discarded. Kicked to the curb. Ready to attract the basic thinkers again as they scramble for “safe stocks” to buy in the usual September pullback.
PFE delivered a “disappointing” earnings and sales outlook on August 1. Since then, the stock has gained 2.2% while the S&P 500 has shed 3.6%. (There’s some beta for ya!)
When a stock no longer tanks on bad news, that’s big-time bullish. PFE is on a heater, rolling out 19 new products in 18 months. In total, CEO Dr. Albert Bourla projects $20 billion in annual sales by 2030.
Wall Street says it is skeptical. “Serious challenges lay ahead for Pfizer!” Well, some wise guys and gals have been accumulating shares since the “bad outlook” dropped at the start of the month. They’re not waiting for the news to get better.
The smart money is buying now and collecting 4.5% while it waits. We contrarians should do the same.
— Brett Owens
https://dailytradealert.com/2023/08/29/ ... ale-today/
Ta akcja daje 4,5% dwwidendy i jest okazją "raz na dekadę"
Cough. Cough. “This latest variant is legit,” I sputtered to my wife.
This was a school year and a half ago. The kids were home sick—again. Our little super spreaders had kindly brought home the latest coronavirus model.
Or so I thought. We soon learned it was Respiratory Syncytial Virus (RSV) going around town. RSV is highly contagious and, while the Internet lists its symptoms as mild, it wouldn’t be my choice for our next family illness. RSV lingers like an out-of-town relative without a return flight.
Generally, RSV runs its course. But it’s nearly impossible to avoid unless you avoid people—which may or may not be an option.
Enter Abryvso, a new RSV vaccine which gained FDA approval for pregnant women last week. Infants are susceptible to respiratory illness from the virus—so parents may opt to get mom vaccinated so that immunity is passed to the infant. (Abryvso was approved for individuals 60 and older in age in May.)
Abryvso is a creation of “vaccine machine” Pfizer (PFE). And while this isn’t an ad for the shot, it is a commercial for PFE the stock.
The blue-chip pharma stock trades for less than 10-times earnings. It yields 4.5%, which beats the 10-year Treasury. PFE goes on sale like this once in a blue moon. When the stars align, we call out the PFE bargain in these pages.
As we did the last time the stock was this cheap in April 2020. (Sigh. The obligatory sigh when anyone mentions 2020.) Back then, I said it was a once in a decade sale. My bad—three years later, PFE is cheap again, paying 4.5%.
I know, I know. Four-and-a-half isn’t the 8% “No Withdrawal” type of yield we’re used to. But this is Pfizer, and four-plus is about as good as it gets.
Before that, we can look to 2009 and 1987 as other times that PFE was this cheap. After the stock market crash of 1987, PFE shares yielded 4.3%. That was, needless to say, a great time to buy the stock. What happened?
March ’09 was another bargain moment in PFE. Investors who dumpster dived for Pfizer locked in an incredible double-digit yield. They also quadrupled their investment over the next 11 years.
Well, here we go again. PFE yields 4.5%. Anytime it pays 4.5% or more, it proves to be a screaming deal.
We had more chances to buy PFE at these divvy levels even after the financial crisis, the most recent in October 2011. Shares took off, and the drug maker’s yearly dividend raises couldn’t keep up:
Recent Times PFE Paid 4.5%+
Since the start of 2010, PFE has paid more every year—up 128%! It’s a buy-and-hold investors’ dream, but we can do even better with some light market timing. Like buying PFE only when it pays 4.5% or more, “bottomy” opportunities indicated by the arrows above!
Worries about PFE’s pipeline persist through the decades. Wall Street pundits—with biology expertise that peaked in high school—lament the firm’s lack of future blockbuster drugs. A dry pipeline is usually the refrain.
Pharma sentiment swings quickly. Just 19 months ago, PFE shares were peaking so the stock paid only 2.1%. Bullish euphoria from the company’s widely distributed COVID vaccine hit a high point.
The yield was quite a contrarian indicator! Shares were clearly dear. Two dividend raises later, the price dropped and the stock is cheap, trading for less than ten times earnings.
Vanilla investors, ironically, aren’t interested. The herd bought the blue chip at 2.1% but ignore 4.5%!
Sure, PFE’s headline numbers are lackluster, with revenues sliced in half as demand for its COVID vaccines and pills fade. But its non-COVID products are being fast tracked. The stock is at an inflection point where new products will take the baton.
We contrarians are happy to consider the bargain. Sure, the stock market is in the middle of a correction. We’ve been waiting for this, favoring boring dividend payers.
The beauty of PFE today is that it has already been discarded. Kicked to the curb. Ready to attract the basic thinkers again as they scramble for “safe stocks” to buy in the usual September pullback.
PFE delivered a “disappointing” earnings and sales outlook on August 1. Since then, the stock has gained 2.2% while the S&P 500 has shed 3.6%. (There’s some beta for ya!)
When a stock no longer tanks on bad news, that’s big-time bullish. PFE is on a heater, rolling out 19 new products in 18 months. In total, CEO Dr. Albert Bourla projects $20 billion in annual sales by 2030.
Wall Street says it is skeptical. “Serious challenges lay ahead for Pfizer!” Well, some wise guys and gals have been accumulating shares since the “bad outlook” dropped at the start of the month. They’re not waiting for the news to get better.
The smart money is buying now and collecting 4.5% while it waits. We contrarians should do the same.
— Brett Owens
https://dailytradealert.com/2023/08/29/ ... ale-today/
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Pfizer slashes revenue forecast on lower COVID sales, will cut costs
(Reuters) -Pfizer on Friday slashed its full-year revenue forecast by 13% and said it will cut $3.5 billion worth of jobs and expenses due to lower-than-expected sales of its COVID-19 vaccine and treatment.
Pfizer (NYSE:PFE) earned record revenue in 2021 and 2022, topping $100 billion last year, after developing its vaccine Comirnaty with German partner BioNTech SE (NASDAQ:BNTX) and antiviral treatment Paxlovid on its own. Last year, revenue from those two products exceeded $56 billion.
But annual vaccination rates have dropped sharply since 2021 and demand for treatments has dipped as population-wide immunity has increased from vaccines and prior infections. Pfizer and rivals have begun selling an updated COVID vaccine for this fall.
"We remain proud that our scientific breakthroughs played a significant role in getting the global health crisis under control," Pfizer CEO Albert Boura said in a statement. "As we gain additional clarity around vaccination and treatment rates for COVID, we will be better able to estimate the appropriate level of supply to meet demand."
The drugmaker said it now expects 2023 revenue of between $58 billion and $61 billion, down from its prior forecast of $67 billion to $70 billion. It said the reduction was solely due to lowered expectations for its COVID-19 products.
Pfizer said it will take a non-cash charge of $5.5 billion in the third quarter to write off $4.6 billion of Paxlovid and $900 million of inventory write-offs and other charges for the vaccine.
The cost-cutting program, which will target savings of at least $3.5 billion annually by the end of 2024, will include layoffs, the company said, without providing details on how many jobs will be cut or from what areas. One-time costs to achieve the savings are expected to be around $3 billion.
Shares of the New York-based company were down about 7% in extended trading.
Pfizer slashed its forecast for sales of its antiviral COVID treatment Paxlovid by about $7 billion, including a non-cash $4.2 billion revenue reversal, as it agreed to allow the return of 7.9 million courses purchased by the U.S. government. It had previously expected Paxlovid revenue of about $8 billion for the year.
Pfizer said that under a deal with the U.S. government, a credit for the returned Paxlovid doses will underwrite a program to supply the drug free-of-charge to uninsured and underinsured Americans through 2028 and to patients insured under the government's Medicare and Medicaid programs through the end of next year.
Pfizer will also provide the U.S. government 1 million courses of Paxlovid for the Strategic National Stockpile.
The company expects the drug will become commercially available to people with private insurance in Jan. 1.
Pfizer also cut full-year revenue expectations for the COVID vaccine by about $2 billion due to lower-than-expected vaccination rates.
Pfizer said its non-COVID products remain on track to achieve 6% to 8% revenue growth year over year in 2023.
(Reuters) -Pfizer on Friday slashed its full-year revenue forecast by 13% and said it will cut $3.5 billion worth of jobs and expenses due to lower-than-expected sales of its COVID-19 vaccine and treatment.
Pfizer (NYSE:PFE) earned record revenue in 2021 and 2022, topping $100 billion last year, after developing its vaccine Comirnaty with German partner BioNTech SE (NASDAQ:BNTX) and antiviral treatment Paxlovid on its own. Last year, revenue from those two products exceeded $56 billion.
But annual vaccination rates have dropped sharply since 2021 and demand for treatments has dipped as population-wide immunity has increased from vaccines and prior infections. Pfizer and rivals have begun selling an updated COVID vaccine for this fall.
"We remain proud that our scientific breakthroughs played a significant role in getting the global health crisis under control," Pfizer CEO Albert Boura said in a statement. "As we gain additional clarity around vaccination and treatment rates for COVID, we will be better able to estimate the appropriate level of supply to meet demand."
The drugmaker said it now expects 2023 revenue of between $58 billion and $61 billion, down from its prior forecast of $67 billion to $70 billion. It said the reduction was solely due to lowered expectations for its COVID-19 products.
Pfizer said it will take a non-cash charge of $5.5 billion in the third quarter to write off $4.6 billion of Paxlovid and $900 million of inventory write-offs and other charges for the vaccine.
The cost-cutting program, which will target savings of at least $3.5 billion annually by the end of 2024, will include layoffs, the company said, without providing details on how many jobs will be cut or from what areas. One-time costs to achieve the savings are expected to be around $3 billion.
Shares of the New York-based company were down about 7% in extended trading.
Pfizer slashed its forecast for sales of its antiviral COVID treatment Paxlovid by about $7 billion, including a non-cash $4.2 billion revenue reversal, as it agreed to allow the return of 7.9 million courses purchased by the U.S. government. It had previously expected Paxlovid revenue of about $8 billion for the year.
Pfizer said that under a deal with the U.S. government, a credit for the returned Paxlovid doses will underwrite a program to supply the drug free-of-charge to uninsured and underinsured Americans through 2028 and to patients insured under the government's Medicare and Medicaid programs through the end of next year.
Pfizer will also provide the U.S. government 1 million courses of Paxlovid for the Strategic National Stockpile.
The company expects the drug will become commercially available to people with private insurance in Jan. 1.
Pfizer also cut full-year revenue expectations for the COVID vaccine by about $2 billion due to lower-than-expected vaccination rates.
Pfizer said its non-COVID products remain on track to achieve 6% to 8% revenue growth year over year in 2023.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Pfizer NYSE: PFE p. farmaceutyczny, producent leków m.in. Viagra, szczepionka Covid 19
Pfizer (NYSE:PFE), a leading innovative biopharmaceutical company with over 150 years of history, has received an Equal-Weight recommendation from Wells Fargo, indicating a potential upside of 40.53%. The one-year price target averages at $45.12, with a range from $32.32 to $78.75. This comes as Pfizer's annual revenue is projected to rise by 1.52% to $79,124MM, accompanied by a non-GAAP EPS of 5.02.
The company's put/call ratio stands at 0.82, suggesting a bullish outlook despite a recent decrease in institutional investment. The number of funds or institutions invested in Pfizer has dropped by 3.77% to 4294 in the last quarter, and the average portfolio weight for PFE has decreased by 11.95% to 0.57%.
Wellington Management Group Llp and Capital World Investors remain key shareholders, holding 4.13% and 3.52% respectively. Wellington increased its holdings by 6.08%, while Capital World decreased its stake by 16.33%. Other significant shareholders include Vanguard Total Stock Market Index Fund Investor Shares (3.12%), Vanguard 500 Index Fund Investor Shares (2.38%), and Geode Capital Management (2%).
Pfizer continues to leverage science and global resources across developed and emerging markets to extend and significantly improve lives worldwide. It remains committed to challenging the most feared diseases and collaborates with healthcare providers, governments, and local communities to support and expand access to reliable, affordable healthcare.
The company routinely posts investor information on its website, reflecting its commitment to transparency in communication with stakeholders.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
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