Pfizer tops earnings estimates as Covid product sales beat expectations and cost cuts pay off

Pfizer On Tuesday, the profit and income from the fourth quarter reported that estimates estimates because the sale of the company's COVID products were the expectations at the top and the broad cost-saving efforts.

This is what the company reported for the fourth quarter compared to what Wall Street expected, based on a study among analysts by LSEG:

• Profit per share: 63 cents adapted versus 46 cents expected
• Gain: $ 17.76 billion versus $ 17.36 billion expected

PFIZER shares rose by 2% in Premarket on Tuesday.

The results close a critical year for Pfizer, which has pursued broad cost reductions while recovering from the rapid decline in his COVID business and share price in the past two years. The company said it is on schedule to save to around $ 4.5 billion from its cost -saving program by the end of 2025 to the end of 2025.

The company recorded the net income of the fourth quarter of $ 410 million, or 7 cents per share. In comparison with a net loss of $ 3.37 billion, or a loss of 60 cents per share, during the same period a year ago.

Excluding certain items, including restructuring costs and costs related to intangible assets, the company achieved the profit per share of 63 cents for the quarter.

Pfizer reported a turnover of $ 17.76 billion for the fourth quarter, an increase of 22% compared to the same period a year ago.

The company repeated the annual 2025 front views it issued in December, which predicts the turnover from $ 61 billion to $ 64 billion, with a similar performance of its COVID products as shown in 2024. Pfizer noted that changes to the Medicare program as a result of the inflation reduction law will damage the sale by $ 1 billion.

The company strips one -off articles and expects the profit of 2025 to be in the range of $ 2.80 to $ 3 per share.

But Wall Street is probably more concerned with the financial health of Pfizer and the drugs. Investors also look to see if Pfizer can win part of the flowering drug market for weight loss with the once day version of his experimental obesity pill, Danuglipron.

Pfizer seems to have avoided a proxy struggle with activist Investor Starboard value, which currently has a interest of around $ 1 billion in the pharmaceutical giant. The deadline has been adopted for this year for nominating board members.

The beat of Pfizer's fourth quarter was partly fed by higher than expected demand for its COVID products.

Paxlovid, his antiviral pill, brought $ 727 million sales for the quarter, an increase in loss of $ 3.1 billion in income registered in the period of the year. But the same quarter last year included a reversal of income linked to the planned return of approximately 6.5 million Paxlovide doses of the US government.

Pfizer said that growth was powered by a strong question, especially in the US during a recent COVID golf, and a one-off contract delivery of 1 million treatment courses from Paxlovid to the federal government. Analysts expected that the drug would yield $ 630.7 million in sales according to Street account.

The COVID shot of the company achieved $ 3.4 billion in income, a decrease of $ 2 billion compared to the same period a year ago. Pfizer said that the decline was mainly driven by fewer Covid vaccinations worldwide and lower contracted doses of his shot.

According to Street account, analysts expected $ 3 billion in sale for the shot.

Exclusive Covid products said Pfizer that the turnover for the fourth quarter on an operational basis increased by 12%, fed by approved cancer products from Seagen, which in 2023 acquired no less than $ 43 billion.

These medicines raised $ 915 million in income for the quarter, compared to only $ 132 million in sales in the fourth quarter of 2023.

Turnover also received a boost from the sale of Pfizer's Vyndaqel medicines, which are used to treat a certain type of cardiomyopathy, a heart muscle disease. These medicines achieved a turnover of $ 1.55 billion, an increase of 61% compared to the fourth quarter of 2023.

Analysts expected that the group of drugs would achieve in $ 1.51 billion for the quarter, according to Street account estimates.

Pfizer said his blood thinner Eliquis, which is partly marked by Bristol Myers Squibb, also helped to stimulate sales growth during the period. The drug achieved $ 1.83 billion in income for the quarter, an increase of 14% compared to the period of the year.

That is slightly higher than the $ 1.67 billion that analysts expected, according to Street account.

However, the sale of Eliquis can be hit by 2026, when a new price for the drug comes into force for certain medicine patients after negotiations with the federal government. These price negotiations are an important determination of the inflation reduction law of President Joe Biden that the pharmaceutical industry is strongly against.

The Pfizer vaccine against respiratory syncytial virus, or RSV, saw $ 198 million in income for the fourth quarter, by 62% falling compared to the period of the year. The shot, known as Abrysvo, came to the market for seniors and expectant mothers in the third quarter of 2023 who can pass on protection on their fetuses.

The company said that the decline came after a significant decrease in American vaccination rates in older adults as a result of current recommendations from the Centers for Disease Control and Prevention, which limited the market opportunities for RSV -Schoten. The advisory panel voted in June to recommend RSV -Schoten to adults aged 75 and higher, but said that 60 to 74 should only do this if they run a higher risk of serious illness.

Analysts had expected the shot to generate a turnover of $ 459.5 million, according to estimates from street account.