Pfizer Reports Flat Third-Quarter Revenue and Raises Full-Year Guidance
Pfizer (PFE) reported third-quarter revenue of $16.6 billion, remaining flat year-over-year as growth in newer products offset significant declines in COVID-related sales and Prevnar. Key drivers included Eliquis, which saw a 25% increase to $2.52 billion due to higher U.S. net pricing, alongside growth from Padcev, Vyndaqel, Nurtec, and Lorbrena. Despite the drop in reported diluted EPS to $0.56 from $0.62, adjusted diluted EPS remained steady at $0.87. Encouraged by operational performance and cost-cutting initiatives aimed at $9.7 billion in savings through 2029, Pfizer raised its full-year revenue guidance to a range of $62.0 billion to $64.0 billion and increased its adjusted diluted EPS outlook.
Tickers: $PFE