Pfizer exceeded fourth-quarter earnings and revenue expectations, driven by strong sales of its Covid-19 products and the contribution of newly acquired cancer drugmaker Seagen. This positive result marks a significant step for Pfizer as it navigates a shift away from its Covid-19 business and focuses on long-term growth strategies.
Pfizer reported fourth-quarter earnings and revenue that beat estimates as sales of the company's Covid products came in higher than expected and cancer drugs from Seagen boosted revenue.
The results cap off a critical year for Pfizer, which has been slashing costs as it recovers from the rapid decline of its Covid business and stock price over the last two years.fourth-quarter earnings and revenue that beat estimates as sales of the company's Covid products topped expectations and cancer drugs from its acquisition of Seagen boosted revenue.
Excluding certain items, including restructuring charges and costs associated with intangible assets, the company posted earnings per share of 63 cents for the quarter.The company reiterated the full-year 2025 outlook it provided in December, forecasting sales of $61 billion to $64 billion, with a similar performance from its Covid products as seen in 2024. Pfizer noted thatStripping out one-time items, the company expects 2025 earnings to be in the range of $2.80 to $3 a share.
But Wall Street is likely more concerned with Pfizer's long-term financial health and its drug pipeline. That will heavily depend on the commercial success of its $43 billion acquisition of cancer drugmaker Seagen, which likely won't contribute significant returns for several years. Investors are also watching to see whether Pfizer can win a slice of the booming weight loss drug market with the once-daily version of its experimental obesity pill, danuglipron.a proxy battle with activist investor Starboard Value, which has a roughly $1 billion stake in the pharmaceutical giant, for now. The deadline passed for nominating board members for this year.
Pfizer Earnings Revenue Covid-19 Seagen Cancer Drugs
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