Pfizer confirms forecast, sees mixed virus impact on sales

Pfizer boosts by $500 million the range of its research and development budget for spending on a potential vaccine for COVID-19 as well as evaluation of existing products. coronavirus

Revenues at the pharmaceutical giant were dented by the halt to non-essential surgeries, and Pfizer also ceased in-person meetings with healthcare professionals in many markets, impeding prescriptions of some new drugs.

Net income came in at $3.4 billion, 12% below last year, which translated into per-share results that topped analyst expectations.Pfizer confirmed its full-year forecasts for revenues and adjusted profits, while tweaking a number of other aspects of its outlook.

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