Pfizer, an American pharmaceutical company, announced that in the fourth quarter ending December 31 last year, the adjusted earnings per share was reported at 10 cents, while the market expected a loss of 22 cents. Revenue reached $14.25 billion, lower than the expected $14.42 billion.
After the news was made public, Pfizer’s stock price fell by 1.9% on Tuesday.
CEO Albert Bourla pointed out that the group expects the company’s structure to become more focused and efficient to drive the development of new drugs.
Pfizer disclosed that the sales revenue of its COVID-19 drug Paxlovid and COVID-19 vaccine Comirnaty last year was $12.5 billion, in line with expectations; as for the amount of Paxlovid returned by the US government, it was lower than expected. The group also implemented a $4 billion cost-cutting plan announced last year based on business objectives, which is conducive to better-than-expected performance.
However, the revenue of Ibrance, a best-selling drug under the group, was reported at $1.12 billion in the last quarter, lower than the expected $1.23 billion. The revenue of another best-selling drug, Prevnar, was $1.61 billion, also lower than the expected $2 billion.
The group maintained its forecast of adjusted earnings per share ranging from $2.05 to $2.25 and revenue ranging from $58.5 billion to $61.5 billion for this year.
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