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News Breaks
May 2, 2014
10:55 EDTPFEEarnings Preview: Pfizer looks for earnings boost from Lyrica others
Pfizer (PFE) is scheduled to report first quarter earnings before the market open on Monday, May 5, with a conference call scheduled for 10:00 am ET. Pfizer, a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. Its product portfolio includes medicines and vaccines, as well as various consumer healthcare products. EXPECTATIONS: Analysts are looking for earnings per share of 55c on revenue of $12.07B, according to First Call. The consensus range for EPS is 52c-59c on revenue of $11.82B-$12.86B. LAST QUARTER: Pfizer reported fourth quarter EPS of 56c, which beat consensus estimates of 52c, on revenue of $13.56B, which beat consensus estimates of $13.37B. In its Q4 earnings press release, Pfizer said reported revenues decreased $333M, or 2%, which reflected operational growth of $64M, or 1%, and the unfavorable impact of foreign exchange of $397M, or 3%. The operational increase was primarily due to the strong growth of Lyrica, Inlyta and Xalkori globally, Enbrel outside of North America, as well as Celebrex, Eliquis and Xeljanz, primarily in the U.S. Revenues were negatively impacted primarily by the expiration on October 31, of the collaboration agreement for Enbrel in North America, continued erosion for branded Lipitor in developed Europe and certain other developed markets. STREET RESEARCH: On April 29, Citigroup raised its price target on Pfizer to $36 from $31, citing its high conviction that the company will ultimately close an "extremely value enhancing" acquisition of AstraZeneca (AZN). Citi kept a Buy rating on the stock. PRICE ACTION: Shares of Pfizer are up over 3% since its last earnings report on January 28. In mid-morning trading ahead of Monday's earnings, shares of Pfizer are down over 1%.
News For PFE From The Last 14 Days
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July 22, 2014
16:18 EDTPFEPuma Biotech now responsible for R&D expenses associated with legacy trials
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July 17, 2014
08:08 EDTPFEBristol-Myers, Pfizer announce enrollment in Phase IV EMANATE trial for Eliquis
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July 16, 2014
10:36 EDTPFETreasury calls on Congress to halt inversion deals
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09:27 EDTPFEPfizer to acquire InnoPharma for upfront cash payment of $225M
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07:59 EDTPFETreasury Secretary urges Congress to take action on tax inversions
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07:04 EDTPFEPfizer says primary endpoint met in Phase 3 study of BeneFIX
Pfizer announced the positive results of a Phase 3 study comparing a prophylaxis regimen of BeneFIX Coagulation Factor IX 100 IU/kg once-weekly to on-demand treatment in people with moderately severe to severe hemophilia B. The top-line results of the study showed that the primary study endpoint was met and hemophilia B patients taking once-weekly BeneFIX showed a statistically significant reduction in the annualized bleeding rate relative to on-demand treatment with BeneFIX. In the study, the median ABR value, a commonly used measure of efficacy for prophylaxis regimens in hemophilia, was 2.0 for the prophylaxis regimen, compared to 33.6 for the on-demand regimen, representing a 94% decrease in bleeding rates. The mean ABR value was 3.6 for the prophylaxis period, compared to 32.9 for the on-demand treatment, which represents a reduction of 89%. Study results also showed that prophylaxis treatment significantly reduced both spontaneous and traumatic ABR compared to on-demand treatment with BeneFIX. In addition to meeting the primary endpoint, the secondary study endpoints showed that none of the 1,254 prophylaxis infusions administered during the study were associated with a less than expected therapeutic effect occurrence, which was defined as a spontaneous bleed occurring within 48 hours of a prophylaxis infusion. These results are preliminary, top-line data and are subject to additional analyses. Complete results from this study will be submitted for presentation at upcoming medical congresses and submitted for publication in a peer-reviewed journal.
July 9, 2014
06:49 EDTPFEPfizer given dismissal of U.S. investor class action before trial, Reuters says
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