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Pfizer On Thursday, it reported third-quarter earnings and revenue that were in line with estimates and its full-time guidance as cost-cutting helped lower sales during the period.
The pharmaceutical giant now expects its full-year adjusted profit to be between $3 and $3.15, up from $2.90 to $3.10. It said Pfizer’s “solid” performance for the year reflected “confidence in our business” and progress on cost reductions, among other factors.
Pfizer said it received a one-time payment of $1.35 billion related to its Chinese biotech deal, which is worth 20 cents per share. The company also reported on its 2025 program for the President Donald TrumpCurrent tariffs in China, Canada and Mexico, but not his threatened pharmaceutical specialty.
Pfizer reported full-year revenues of $61 billion to $64 billion.
Analysts were informed about the company’s third quarter for the third quarter, based on surveys of analysts of LSEG.
- Earnings per share: 87 cents adjusted to 63 cents
- Income: 16.65 billion. The dollar is expected to be $16.58 billion
The results were weeks after Pfizer make the first drug deal With Trump willing to sell his drugs for a short time because his administration is linking US drug prices to cheaper ones abroad.
Under the deal, Pfizer agreed to a three-year grace period during which the company’s products would not be subject to Trump’s special pharmaceutical tariffs — as long as the drugmaker invests in U.S. manufacturing. The company plans to invest 70 billion dollars in refinancing domestic medicines and research facilities.
The results come as Pfizer Trade war together NOVO Nordisk biotech Metera for obesity. Pfizer was filed against the two companies on Monday, claiming that Pfizer’s exit bid to buy Metsera by Novo Nordisk is anti-competitive.