Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?



Pfizer Tops Estimates in Second Quarter, Reiterates Full Year Outlook

By  +Follow July 30, 2013 8:52AM
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.  

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for PFE
Warren of Wall St
9 Oct 15 08:30:21
Pfizer has some exciting earnings growth coming up. $PFE https://t.co/afRmi6veQs http://t.co/pQJDbOJyA2
9 Oct 15 08:14:00
Pfizer turns aside yet another case alleging Zoloft caused birth defects http://t.co/JHLFGGLEiR $PFE #pharma by @EricPFierce
BioPharm Insight
9 Oct 15 08:03:30
$TCON’s TRC105 and $PFE’s Inlyta place in 2nd line RCC a hot topic among experts at #BPInews http://t.co/NuwMrh29ne
Stem Cells & Biotech
9 Oct 15 08:00:02
Biotech Stock $CPXX $18 Price Target at Roth Capital http://t.co/RYyqHiRv7v $MDCO $UCBJY $SYN $PFE $ESALY $SYN $DVAX
9 Oct 15 07:58:57
Volume Alert - PFE 33.51 Pfizer Inc $PFE Hit a high today of 33.55 Closing the day 10:30 at 33.51 +0.42 +1.27% http://t.co/ecDOB7fJwr
Anthony Tedla
9 Oct 15 07:52:41
Healthcare ratings roundup - initiations/upgrades $TMO $FATE $OCAT $LLY $ABT $NUVA $FOLD $BLUE $PFE $VRTX http://t.co/K4QstTvfbC
IH News Desk
9 Oct 15 07:44:12
$PFE Stock Forum Updated Friday, October 9, 2015 10:11:16 AM $TWTR $PFE $GILD $DY http://t.co/xWe4Lp84NI
Sunrise Trader
9 Oct 15 07:31:08
Healthcare names in the green $JNJ $PFE LLY
Hot Stocks NYC
9 Oct 15 07:30:25
$pph or drugs decent $lly $pfe $jnj
FinSentS SP500
9 Oct 15 07:17:56
$PFE:US Pfizer Beats Zoloft Birth Defect Suit In Philadelphia #PFIZER INC http://t.co/C7HMSz3BO2 #SP500
Consumer News
9 Oct 15 07:14:47
Pfizer Assigned AA- Credit Rating $PFE http://t.co/1cFK4xLdNi #acn
9 Oct 15 07:11:13
$PFE - Eli Lilly to Expand Its NYC Labs at Alexandria Center http://t.co/Ly4vZ8jTgo
Solo traders
9 Oct 15 07:11:11
$PFE - Eli Lilly to Expand Its NYC Labs at Alexandria Center http://t.co/kZEXDzmqKK
Rosner Stocks
9 Oct 15 07:10:37
$CELG Stock Price Updated Friday, October 9, 2015 09:59:22 AM $LLY $LMT $PFE $LMT http://t.co/2nzyZWa72E
Breaking News Now
9 Oct 15 07:08:05
$PFE $FOLD: Healthcare Stocks within Traders Radar: Pfizer Inc. (NYSE:PFE …: http://t.co/fDG5ZZ4hQe
Dakota Financial
9 Oct 15 07:03:00
Pfizer Assigned AA- Credit Rating $PFE http://t.co/XhCpYqswJ5
Breaking News Now
9 Oct 15 06:43:04
$PFE $GPRO: On the Radar: Keep an eye on these stocks: Pfizer Inc (NYSE:PFE …: http://t.co/g9XosO331O
Pragmatic Profit
9 Oct 15 06:30:17
Go make a great session, everyone. We are eyeing some Close-to-Walking-Dead positions in $FB, $PFE, and $KO. $AAPL already in the ground.
Blake Toney
9 Oct 15 06:28:05
RT @pharmalot: Pharmalot.. Pharmalittle.. Good Morning... headlines & weekend daydreams http://t.co/x5jQZ5vPzF #pharma #berniesanders #FDA …
Sweet Platform
9 Oct 15 06:24:33
PFE Top news - Oct 9th, 2015 $PFE http://t.co/CZOU4giRWK
Biotech Investor
9 Oct 15 06:21:44
RT @pharmalot: Pharmalot.. Pharmalittle.. Good Morning... headlines & weekend daydreams http://t.co/x5jQZ5vPzF #pharma #berniesanders #FDA …
9 Oct 15 05:50:13
$PFE: Insider Buying Activity: Pfizer Inc. (NYSE:PFE), Navistar International …: http://t.co/PxCgXEKoH3
Binary Option
9 Oct 15 05:33:11
RT @pharmalot: Pharmalot.. Pharmalittle.. Good Morning... headlines & weekend daydreams http://t.co/x5jQZ5vPzF #pharma #berniesanders #FDA …
9 Oct 15 05:33:10
Pharmalot.. Pharmalittle.. Good Morning... headlines & weekend daydreams http://t.co/x5jQZ5vPzF #pharma #berniesanders #FDA $PFE $GILD $BMY
9 Oct 15 05:24:03
$PFE: Recent Insider Buying News: Pfizer Inc. (NYSE:PFE), Sprint …: http://t.co/ojgZj4jqOv
9 Oct 15 04:59:07
$PFE: Traders Watch List – Pfizer (NYSE:PFE), Seadrill (NYSE:SDRL …: http://t.co/9QShhIqqPr
9 Oct 15 04:50:03
XLY Consumer Discretionary Select Sector SPDR P/E Ratio http://t.co/I0fbRp8idM $XLY $ABX $HHY $PFE #XLY #pennystocks #investing
Investors Hangout
9 Oct 15 04:43:35
PFE Pfizer, Inc. Dividend http://t.co/Luq0lGPofR $PFE $RDSH $HIX $TNGO #PFE #stock #pennystocks
IH News Desk
9 Oct 15 04:40:04
IBM International Business Machines Ex-Div Date http://t.co/awQslAM2CT $IBM $SQQQ $PFE $XLB #IBM #pennystocks #invest
Investors Hangout
9 Oct 15 04:38:05
GDX Market Vectors Gold Miners Ex-Div Date http://t.co/AKjDD5Qp8f $GDX $EWI $CTLE $PFE #GDX #investing #tradeideas
9 Oct 15 04:33:08
CVX Chevron Corp. Last Trade http://t.co/IVASWMWJ6B $CVX $SVXY $PFE $P #CVX #nasdaq #investing
9 Oct 15 03:45:35
PFE Pfizer, Inc. Chart http://t.co/vOwumOrSRX $PFE $DIS $DXJ $TZA #PFE #stocks #stocks
9 Oct 15 03:45:33
PFE Pfizer, Inc. Quotes http://t.co/MD2xQfquGY $PFE $JNUG $LQD $XLF #PFE #investing #invest
Stock Forums
9 Oct 15 03:45:10
PFE Pfizer, Inc. Ex-Div Date http://t.co/Ax2yTyOJEY $PFE $T $NFLX $ESRX #PFE #stock #finance
9 Oct 15 03:45:08
PG Procter & Gamble Co. Last Trade http://t.co/WVz3kXakOE $PG $DIA $PFE $NVAX #PG #share #finance
9 Oct 15 03:45:06
PFE Pfizer, Inc. Exchange http://t.co/TjY4el96pQ $PFE $ETE $XLU $KGC #PFE #share #share
9 Oct 15 03:43:34
PFE Pfizer, Inc. Quotes http://t.co/BaLhTZ4U2U $PFE $NFLX $CYBR $AAPL #PFE #investing #share
9 Oct 15 03:43:05
MYEC MyECheck, Inc. 52Wk Low http://t.co/sUO4pXDTZT $MYEC $XLI $PFE $AMD #MYEC #tradeideas #invest
9 Oct 15 03:42:10
IWM Russell 2000 iShares Stock Forum http://t.co/B0qoJDp7Xl $IWM $NUGT $PFE $RCPI #IWM #nasdaq #share
9 Oct 15 03:40:33
HSBA.L HSBC Holdings EOD Data http://t.co/wOtCzoWKcH $HSBA.L $FNV $PFE $IDNG #HSBA.L #tradeideas #stockmarket
9 Oct 15 03:39:39
GOOGL Alphabet Inc. Exchange http://t.co/5zLexuVjjn $GOOGL $BLTA $PFE $OIH #GOOGL #share #stock
9 Oct 15 03:38:05
FXI iShares FTSE China 25 Index Fund % Change http://t.co/txH6igIZct $FXI $SLW $XLF $PFE #FXI #pennystocks #pennystocks
9 Oct 15 03:36:52
EOG EOG Resources, Inc. Message Board Posts http://t.co/Cm3tF852qf $EOG $DIA $GASL $PFE #EOG #tradeideas #share
9 Oct 15 03:36:05
EEM iShares MSCI Emerging Markets Open http://t.co/pvNp9WnpoM $EEM $IDNG $USO $PFE #EEM #stock #investing
Investors Hangout
9 Oct 15 03:34:52
CVX Chevron Corp. Exchange http://t.co/SHvRS86o1r $CVX $MSTX $PFE $EGO #CVX #share #invest
IH News Desk
9 Oct 15 03:34:11
CTXS Citrix Systems, Inc. Short Sales http://t.co/E0J9wXaDxX $CTXS $GBSN $ALU $PFE #CTXS #tradeideas #pennystocks
Investors Hangout
9 Oct 15 03:33:35
CYBR Cyber-Ark Software Ltd. Open http://t.co/3xD64aPKmb $CYBR $MCK $PFE $ECIG #CYBR #invest #investing
Rosner Stocks
9 Oct 15 03:06:12
$SH Stock Price Updated Friday, October 9, 2015 05:59:21 AM $XLV $XME $PFE $CANF http://t.co/UTP6meWuWU
9 Oct 15 02:01:23
The Most Expensive #Stocks On U.S. Markets Today $AIV $KO $MCD $MO $NKE $PG $CSC $DIS $GE $HD $PFE $SLG http://t.co/uXjWC3cux4
IH News Desk
9 Oct 15 01:36:40
$T Stock Price Updated Friday, October 9, 2015 04:11:13 AM $PFE $XBI $PCLN $SDS http://t.co/EQPZNSgA53
By  +Follow July 30, 2013 8:52AM



blog comments powered by Disqus

 Today's Must Reads

Market Got You Down?: Here Are Six Hot Stocks

Global Winners and Losers in the Oil Shakeout

This Bull Market is No Stranger to Big Fourth-Quarter Comebacks

When to Sell and When to Rent an Investment Property

Saving the Small-Cap Market


Small-cap stocks offer investors many benefits, ranging from higher growth potential to overlooked value opportuni... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

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

Login or Register