pfizer
New York (AFP) - Pfizer issued a disappointing 2024 forecast Wednesday, denting shares as the company navigates a profound plunge in sales tied to the Covid-19 pandemic. The company, which reported more than $100 billion in revenue in 2022 due to the lift from Covid-19 vaccine and therapeutic sales, sees 2024 revenues of between $58.5 billion and $61.5 billion, according to its presentation. Pfizer signaled it expects 2024 profits to be dented by an estimated 40 cents per share in costs to finance its acquisition of Seagen. Shares plunged more than eight percent in late-morning trading follo...
AFP
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New York (AFP) - Pfizer announced Tuesday that it expects to complete this week its $43 billion acquisition of cancer-focused biotech company Seagen after clearing key regulatory hurdles. "Pfizer and Seagen have now received all required regulatory approvals," Pfizer said in a news release that reported a key US antitrust waiting period had expired. "Pfizer expects to close the acquisition of Seagen on December 14." The big US drugmaker announced the transaction on March 13, pointing to Seagen's prominence in innovative cancer treatment. The purchase of Seagen "is good for patients in the batt...
AFP
Washington (AFP) - US drugmaker Pfizer on Friday said it would end a clinical trial of its developmental weight loss pill after high side effect rates caused most participants to stop using it. A twice-daily dosing of the highly anticipated drug danuglipron was found to be effective, resulting in weight reductions of between 8-13 percent at 32 weeks, compared to a placebo. But nearly three-quarters of trial participants experienced nausea, almost half had vomiting, and a quarter had diarrhea. Consequently, the discontinuation rate was greater than 50 percent, compared to 40 percent on placeb...
AFP
New York (AFP) - GlaxoSmithKline sued Pfizer on Wednesday over patent infringement, alleging the US drugmaker's RSV vaccine steals key elements of the British company's version. The case, filed in federal court in the state of Delaware, pits the producers of the only two approved vaccines for respiratory syncytial virus (RSV) against each other. The United States on May 3 approved GSK's Arexvy as the first vaccine for RSV; that was followed on May 31 with US approval of Pfizer's Abrysvo. Both vaccines have since been approved by the European Union. "Upon information and belief, Pfizer knowing...
AFP
New York (AFP) - Pfizer reported a steep drop in profits Tuesday on much lower Covid-related revenues as it curtailed its full-year sales outlook, in part due to tornado damage to a key manufacturing facility. Profits in the second quarter were $2.3 billion, down 77 percent as revenues fell 54 percent to $12.7 billion. Quarterly revenues for Pfizer's Covid-19 vaccine and Paxlovid therapeutic were $1.6 billion, far below the $16.9 billion in the year-ago period. The drugmaker pointed to a "few near-term individual product revenue" challenges as it trimmed its full-year sales forecast. These inc...
AFP
Key PointsCaribou surged 45% yesterday after news broke that Pfizer invested $25 million.The investment by Pfizer signals a strong confidence in Caribou’s pipeline and lead candidates.Caribou’s stock shows signs of a potential trend reversal, with the market reacting positively and the volume reaching record levels.Analysts have a consensus Buy rating for the stock, with a predicted potential upside of 364%.5 stocks we like better than PfizerShares of Caribou Biosciences (NASDAQ:CRBU) were up 45% yesterday after Pfizer (NYSE:PFE) made a $25 million equity investment. On Thursday, the company s...
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Key PointsPfizer’s Q1 results top expectations on strength in COVID sales.Ex-COVID sales grew by 5% and are expected to accelerate in the 2nd half.The stock yields more than 4% and offers value compared to its peers.5 stocks we like better than PfizerPfizer (NYSE:PFE) was expected to post a significant decline in revenue and earnings because of the slowing COVID business, and it did. However, the takeaway from the report is that business is better than expected, the company is growing at the core level, and the pipeline of new products is robust. That’s important because of the looming patent ...
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BioNTech had a strong quarter despite slowing COVID sales.A robust pipeline makes it a takeover target for larger pharma companies.A share repurchase program should help support price action in 2023.5 stocks we like better than BioNTechBioNTech (NASDAQ:BNTX) got a substantial boost from the pandemic and its mRNA vaccine, developed with Pfizer (NYSE:PFE). The stock has seen a substantial correction since then due to slowing COVID sales, but the bottom is in. Q4 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorEach advisor has been vetted by SmartAsset and is held ...
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Pfizer is merging with Seagen in a $43 billion acquisition.Seagen was a sought-after target and Pfizer is succeeding where Merck failed, but it paid a premium to do so.Pfizer is expecting the acquisition to add $10 billion in revenue by 2030; early indications suggest analysts are less convinced.If Pfizer is right, this would be the element that was missing from an otherwise attractively priced stock.5 stocks we like better than PfizerQ4 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorFinding a qualified financial advisor doesn't have to be hard. SmartAsset's fr...
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