Pfizer Raises Full-Year Guidance and Appoints Cecile Guegan as CFO
Pfizer (PFE) reported third-quarter earnings that exceeded Wall Street expectations, driven by strong performance in its non-COVID portfolio. The company raised its full-year revenue guidance to a range of $62 billion to $64 billion and increased its adjusted profit outlook to between $2.95 and $3.05 per share. Key growth drivers included the blood thinner Eliquis, which saw 25% sales growth, and the cancer drug Padcev. Alongside the financial results, Pfizer announced that veteran finance leader Cecile Guegan has officially stepped into the role of Chief Financial Officer, succeeding interim CFO status following Dave Denton's departure for Nike. To offset declining COVID-19 product demand, CEO Albert Bourla is pivoting toward strategic acquisitions in oncology and weight loss treatments, supported by a multi-year cost-cutting initiative targeting $9.7 billion in savings through 2029.
Topics: earnings report executive appointment pharmaceuticals revenue guidance
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