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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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April 21, 2015
10:01 EDTPFEPfizer receives FDA breakthrough therapy designation for Xalkori
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08:18 EDTPFEPain Therapeutics resumes responsibility for Remoxy
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08:06 EDTPFEPfizer says Phase 3 inotuzumab ozogamicin study met first primary endpoint
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April 20, 2015
08:02 EDTPFEMerck KGaA, Pfizer initiate Phase III study with Avelumab
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06:05 EDTPFEProvectus receives notice of allowance for PV-10 combined with other drugs
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April 15, 2015
08:04 EDTPFEPfizer: PALOMA-3 trial for IBRANCE met primary endpoint, trial stopped early
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April 13, 2015
15:12 EDTPFEMylan enters settlement, license agreement with Pfizer regarding Viagra
Mylan (MYL) announced that its subsidiaries Mylan Inc. and Mylan Pharmaceuticals have entered into a settlement and license agreement with Pfizer (PFE), Pfizer Limited and Pfizer Ireland Pharmaceuticals to settle patent litigation relating to Mylan's Abbreviated New Drug Application filed with the U.S. FDA for Sildenafil Citrate Tablets 25 mg, 50 mg, and 100 mg. This product is the generic version of Viagra, which is indicated to treat erectile dysfunction. Under the terms of the agreement, Mylan will be able to launch its ANDA products pursuant to a royalty-bearing license as early as December 11, 2017, or sooner under certain conditions, subject to FDA approval. All other terms and conditions of the settlement and license agreement are confidential, and the agreement itself is subject to review by the U.S. Department of Justice and the Federal Trade Commission. For the 12 months ending Dec. 31, 2014, Viagra had U.S. sales of approximately $1.3B, according to IMS Health.

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