logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Pfizer Tops Estimates in Second Quarter, Reiterates Full Year Outlook

By  +Follow July 30, 2013 8:52AM
Share:
Tickers Mentioned:

Pfizer Inc. (PFE) , the biggest drugmaker in the world, on Tuesday reported second-quarter earnings that nipped past analyst predictions as the company fought through declining sales that were hamstringed by the loss of exclusivity on the blockbuster cholesterol fighter Lipitor.

For the quarter, NYC-based Pfizer said it generated $12.97 billion in revenue, compared to $13.97 billion in the second quarter last year.  Net income soared to $14.1 billion, or $1.98 per share, versus $3.25 billion, or 43 cents per share, in last year’s quarter.  In February, Pfizer spun-out its animal health business into a new company called Zoetis, Inc. (ZTS) .  In December 2012, it sold its nutrition business to Nestle SA ($NSRGY) for $11.85 billion, accounting for most of the surge in reported income.  Excluding gains from the sale, restructuring costs and other special items, adjusted profits for the second quarter totaled $4.0 billion, or 56 cents per share, compared to $4.45 billion, or 59 cents per share, in the year prior quarter.

Wall Street was expecting EPS of 55 cents on revenue of $13.01 billion.

Sales of Lipitor sank 55 percent from $1.22 billion in the second quarter of 2012 to $545 million in the latest quarter.  Sales of pneumococcal vaccine Prevnar slipped 3 percent to $969 million due to changes in government purchasing patterns.  Counterbalancing those losses, sales of Pfizer’s biggest drug Lyrica, which is indicated for fibromyalgia, diabetic nerve pain and more, improved by 10 percent to $1.13 billion.

Revenue for Pfizer’s leading business units – primary care, specialty care, emerging markets and established products – all declined compared to the year prior quarter.  Ian Read, chairman and chief executive at Pfizer, said in today’s statement that he expects emerging market business growth to accelerate in the second of the year, led by China.

“From a total company view, we are tracking to our expectations for the full year and continue to capitalize on the investments we are making to better position Pfizer for long-term success,” added Read.

The company backed its 2013 forecast of adjusted earnings in the range of $2.10 to $2.20 per share.

Sales of anti-cancer drugs rose 24 percent to $399 million, boosted in part by a 191-percent climb in sales of Xalkori to $67 million and $17 million in sales from new drug Inlyta.

Operating margin improved significantly from 29.9 percent to 41.3 percent.

Marking “the next step in Pfizer’s journey to further revitalize [its] innovative core,” Pfizer said on Monday that it intends to split its company into three new units.  One unit will focus on drugs that are patent-protected beyond 2015.  The second will include vaccines, oncology and consumer healthcare products.  The third will include drugs that have lost – or will soon lose – patent exclusivity, generics and future product collaborations.  The changes are slated to start happening in January.

Two new drugs, blood thinner Eliquis and rheumatoid arthritis drug Xeljanz, are thought by many to have the capabilities to grow into blockbusters, although Zeljanz is facing some hurdles in Europe with negative opinions being offered by a European Medicines Agency committee.  Zeljanz generated $33 million in sales in the second quarter. The FDA is reviewing a supplemental New Drug Application (NDA) for Zeljanz with a decision expected by February.  Topline results are expected from two ongoing phase 3 trials evaluating Zeljanz in the second quarter next year.  The FDA is also reviewing a supplemental NDA for Eliquis, with a decision expected by March 15, 2014. 

During the second quarter, Pfizer repurchased $3.3 billion worth of its common stock, bringing its first-half total to $8.7 billion.

Shares of PFE have risen 20 percent so far in 2013 through Monday’s close at $29.54.  

Results for PFE
Eric H.
19 Apr 14 13:46:17
RT @Benzinga: #Pharmaceutical #Stocks For #Income, #Value And #Growth Investors $CYDY $GSK $PFE http://t.co/qClELYXRfC
Kamren Martinez
19 Apr 14 12:30:13
Are you looking for winners like $RRD $UHS $PFE $NUAN #moneymanagement http://t.co/fWBRWWiKCJ
BioInvestor
19 Apr 14 11:33:49
$OXGN Oxigene inc : A $ 2,8 Stock That Should Be Trading At $15.00 http://t.co/wvFRhVmcDf $PFE $MRK $INCY $ACOR $ACUR $DNDN $QCOR
Lars Anders
19 Apr 14 07:30:42
Are you considering selling $RPAI $GWW $PFE $LIVE #financial http://t.co/jlUH4fGbOO
North Carter
19 Apr 14 07:04:56
$KO Some Stocks to Watch $PFE $CTRX $ARNA Visit http://t.co/pHtKriDsci
Cecil Beckham
19 Apr 14 07:00:40
$ELS Do you think you should hold $PFE $AN $CI #singedinvestor http://t.co/FJsynPh4d5
docnuman
19 Apr 14 06:57:29
RT @AndyBiotech: $BIIB @jonathanrockoff Alprolix: $2.85/IU x 45IU/kg x 60kg x 52wk =~$400K/yr, which is 33% higher of $PFE's Benefix (~$300…
Andy Biotech
19 Apr 14 06:39:14
$BIIB @jonathanrockoff Alprolix: $2.85/IU x 45IU/kg x 60kg x 52wk =~$400K/yr, which is 33% higher of $PFE's Benefix (~$300K/yr)? #hemophilia
Marius Jackson
19 Apr 14 05:01:52
Are you Investing in $OV $CDNS $PFE $SPY #overvalued http://t.co/jtPtZfJqSC
Connect
19 Apr 14 04:59:18
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Thomas
19 Apr 14 04:57:22
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Todd
19 Apr 14 04:57:01
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Ben Kitchens
19 Apr 14 04:56:42
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Heather Peck
19 Apr 14 04:56:16
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Erika Schulz
19 Apr 14 04:55:53
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Private
19 Apr 14 04:55:33
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Peter
19 Apr 14 04:55:16
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
CAlexanderBeauty
19 Apr 14 04:54:17
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Pure Battlefield
19 Apr 14 04:54:15
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
iDonate
19 Apr 14 04:52:27
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Tara
19 Apr 14 04:51:24
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
Transitional
19 Apr 14 04:50:58
RT @MisterMainSt: A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $A…
MrMainStreet
19 Apr 14 04:49:49
A few of my favorite #dividend names for the next 5yrs $GLW $VZ $GE $AAPL $BP $JNJ $PFE $NKE $GLOG $PFE $DIS $CL $COST $AXP $MA $NLY #DREAM
Jaycob Keating
19 Apr 14 04:18:47
$TSS Small-cap stocks making 52-wk highs $PFE $MAC $USD #equity http://t.co/xQf556SbTC
Brenden Black
19 Apr 14 03:13:54
Wow. Great #Stock #Research on $PFE $MAC $INGR $GAIN #overvalued http://t.co/7urQNcMyG0
Keon Carlisle
19 Apr 14 02:57:16
$WTW Buying or selling? $PFE $SATS $USD Goto http://t.co/fAFymoRuam
Rob McGavern
19 Apr 14 02:30:12
$GXP Top Performing #Stocks today $PFE $LEG $SSO Click http://t.co/T1YNGCCcrm
Crew Gretzky
19 Apr 14 02:25:50
Find more winners like $PFE $DISH $CHRW $USD #personalfinance http://t.co/BvgngQkcvV
The Amazing Seven
19 Apr 14 01:57:49
$PLL Should you buy $PFE $SON $DO Goto http://t.co/k21laswCOi
Eternity101
18 Apr 14 22:42:18
RT @TomSilver39: $BIIB $PFE $GILD Exclusive: Biogen prices hemophilia drug on par with older therapies http://t.co/zT5eWnxQ17 via @reuters
Ernest Partington
18 Apr 14 22:16:04
$PFE Elmwood woman sues Pfizer over Lipitor connection to diabetes http://t.co/iGl0mtZd0c
Tom Silver
18 Apr 14 21:13:01
$BIIB $PFE $GILD Exclusive: Biogen prices hemophilia drug on par with older therapies http://t.co/zT5eWnxQ17 via @reuters
Kelly
18 Apr 14 20:58:14
RT @Benzinga: #Pharmaceutical #Stocks For #Income, #Value And #Growth Investors $CYDY $GSK $PFE http://t.co/qClELYXRfC
Esau Braxton
18 Apr 14 19:48:52
Buying or selling? $CYT $SWKS $PFE $CBM #singedinvestor http://t.co/i02mBHHDq4
Zackery Jaxon
18 Apr 14 19:35:45
#Best #Pennystock research $PFE $CNK $DOX $AAPL #newsletter http://t.co/RpHZgWzHQo
Donte Aldaine
18 Apr 14 19:28:43
$ELS Get research on $PFE $CHS $GAIN Goto http://t.co/KMKwFESXxS
Ambrose Long
18 Apr 14 18:48:08
Are you Investing in $PFE $TOL $MDVN $CSIQ Goto http://t.co/LxopzcPMY0
Stock Market News
18 Apr 14 18:31:31
$DLB #Stock Watchlist. Dont be left behind $PFE $TTC $PCLN View now http://t.co/b0OcDh0kbL
Crew Daily
18 Apr 14 17:43:13
Great #Stock Newsletter on $PFE $DISH $CVD $TUR #singedinvestor http://t.co/2dYA9lNSsG
Sky Hunter
18 Apr 14 17:01:46
Buying or selling? $JNPR $XEL $PFE $CAG #financialnews http://t.co/hiZzgzCdo4
Informer
18 Apr 14 16:28:06
$PFE: Time to Sell the Rebound? http://t.co/XibpaB9pdE
GavinGreenberg
18 Apr 14 15:22:06
$PFE: Time to Sell the Rebound? http://t.co/DbbJfLQdmY
TickerChirp
18 Apr 14 15:15:05
Hot Tweets Regarding $PFE on 04/18/2014 http://t.co/OMxOnMAbXl
StockNews24
18 Apr 14 15:05:43
$PFE - Time to Sell the Rebound? -> http://t.co/rTgj4bruiK #stock #stocks #stockaction
Crew Daily
18 Apr 14 14:59:20
$PFE Time to Sell the Rebound? http://t.co/D7nUFO4D2P
Ernest Partington
18 Apr 14 14:29:07
$PFE Time to Sell the Rebound? http://t.co/uxbW9dXiZ0
ValueWalk.com
18 Apr 14 14:15:34
Predicting new drug sales is more art than science http://t.co/a9NFYOtD7S $GSK $PFE http://t.co/XNWeEmDnzD
Teo Black
18 Apr 14 13:14:36
Get the latest on $PFE $APAM $RNR $QLYS View now http://t.co/yc5j0VbkCa
Teodor Gareth
18 Apr 14 13:08:35
$PFE Healthcare Active Runners: Pfizer Inc. (NYSE:PFE), Gilead Sciences, (NASDAQ ... http://t.co/zhYWD6e4Jn
				
				
By  +Follow July 30, 2013 8:52AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.