Pfizer Raises Annual Profit and Revenue Forecasts Driven by Eliquis Demand
Pfizer (PFE) has upwardly revised its full-year financial guidance, projecting adjusted earnings per share between $2.95 and $3.05, surpassing previous estimates. The company also raised its annual revenue outlook to a range of $62 billion to $64 billion, driven by robust performance in its non-COVID portfolio. A primary driver for the upgrade is the blood thinner Eliquis, which saw global sales jump 25% due to increased demand and higher net pricing in the U.S. Additionally, oncology medication Padcev reported a significant 55% increase in sales. These gains reflect Pfizer's strategic shift toward newer medications to reduce dependency on pandemic-era COVID-19 products.
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- Pfizer Raises Annual Profit and Revenue Forecasts Driven by Eliquis Demand