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
Will Nelson
28 Nov 15 23:28:54
Pfizer Weighs Splitting Up New Drug Behemoth: $PFE $AGN https://t.co/a16l1ty1j4 https://t.co/Pu8gXhXNxt
Rosner Stocks
28 Nov 15 22:47:18
PFE Pfizer, Inc. Company Info https://t.co/RWxd4p7YhY $PFE $EFUT $SCIE $GREK #PFE #finance #pennystocks
28 Nov 15 22:44:07
LL Lumber Liquidators Holdings, Inc. Market Cap https://t.co/WNd9S8AiW5 $LL $NATI $PFE $FCX #LL #nasdaq #stock
Dakota Financial
28 Nov 15 22:41:09
Research Analysts Set Expectations for Pfizer’s FY2015 Earnings $PFE https://t.co/HYmL07PG64
Breaking News
28 Nov 15 22:39:22
$PFE: Research Analysts Set Expectations for Pfizer’s FY2015 Earnings …: https://t.co/XwcXHPpN1F
Khojinur Usmonov
28 Nov 15 21:50:10
Commented on: "Eli Lilly Is Overvalued- Too Costly To Buy" https://t.co/j9fttOSqn6 $LLY $JNJ $MRK $PFE
Investors Hangout
28 Nov 15 21:40:06
FXB Currency Shares British Pound Sterling Trust Day High https://t.co/3bUvBMZQml $FXB $HD $PFE $ADBE #FXB #stock #nasdaq
Jose Pastrana
28 Nov 15 21:38:52
$PFE - The Most Important Message From Charlie Sheen's Recent HIV Admission https://t.co/Z2qZdbGxQc
28 Nov 15 21:38:42
$SALE breakout on #BlackFriday up 5% target $15. 6 EV/EBITDA, $60M stock buyback plan in Q4 https://t.co/qM8kTQpx0i $PFE $PEP $KORS
28 Nov 15 21:35:09
ALXN Alexion Pharmaceuticals, Inc. Day Low https://t.co/KmvaUSLdDD $ALXN $PFE $SYNA $WMIH #ALXN #tradeideas #stocks
David Bartosiak
28 Nov 15 20:53:20
$PFE $AGN https://t.co/YZsNDIViYt
Juliana Vilke
28 Nov 15 19:20:15
RT @TheStreet: Pfizer will buy Allergan in a deal worth about $160 billion, creating the world's biggest drugmaker https://t.co/SZomBRPNFR …
BioPharma Dive
28 Nov 15 19:07:08
We spoke with $LLY, $PFE about advancing the standard of care for RA in an innovation feature last week: https://t.co/imwLkB2daF
Skot Kortje
28 Nov 15 19:03:53
Stock Trends report - Major Drug Manufacturers, November 27, 2015 $PFE $MRK $JNJ https://t.co/cXdvDJ4gaV https://t.co/j9wKMQkCUy
Skot Kortje
28 Nov 15 19:01:22
Stock Trends report - Major Drug Manufacturers, November 27, 2015 $PFE $MRK $JNJ https://t.co/cXdvDJ4gaV https://t.co/KYtASc8bV5
28 Nov 15 18:50:04
VXX iPath S&P 500 VIX Short-Term Futures ETN Volume https://t.co/hYZRtTCb43 $VXX $FDN $PFE $RLYP #VXX #stockmarket #pennystocks
28 Nov 15 18:45:08
PFE Pfizer, Inc. Day High https://t.co/yueSVFethB $PFE $JCP $IYR $FDN #PFE #tradeideas #stocks
Stock Forums
28 Nov 15 18:43:34
LABU Direxion Daily S&P Biotech Bull 3X Shares E.P.S. https://t.co/w4gxkro84b $LABU $EW $PFE $BMY #LABU #nasdaq #stock
Stock Forums
28 Nov 15 18:42:10
IMGN ImmunoGen, Inc. Stock Forum https://t.co/YNlazQ4kif $IMGN $BIB $PFE $NATI #IMGN #nasdaq #share
Investors Hangout
28 Nov 15 18:40:33
GOOG Alphabet Inc. - Class C Exchange https://t.co/P4FtdnbK0z $GOOG $GNC $PFE $VTI #GOOG #investing #stocks
Rosner Stocks
28 Nov 15 18:40:02
GE General Electric Co. Investor Opinions https://t.co/ExByJLg5uG $GE $XLE $CTDT $PFE #GE #tradeideas #investing
28 Nov 15 18:36:56
$PFE - Estados Unidos: Índice Dow Jones fecha praticamente estável nesta sexta, 27 de novembro de 2015 https://t.co/8zypOFZ2w2
28 Nov 15 18:36:54
$PFE - The Most Important Message From Charlie Sheen's Recent HIV Admission https://t.co/SNcKBjqmDC
Solo traders
28 Nov 15 18:36:09
$PFE - Estados Unidos: Índice Dow Jones fecha praticamente estável nesta sexta, 27 de novembro de 2015 https://t.co/DSQ0v4Ei5n
Solo traders
28 Nov 15 18:36:03
$PFE - The Most Important Message From Charlie Sheen's Recent HIV Admission https://t.co/tZuP2jjgGk
Jose Pastrana
28 Nov 15 18:35:06
$PFE - Estados Unidos: Índice Dow Jones fecha praticamente estável nesta sexta, 27 de novembro de 2015 https://t.co/t704ribq52
US Banking News
28 Nov 15 18:23:49
$PFE - Sanford C. Bernstein Analysts Give Pfizer a $41.00 Price Target #PFE https://t.co/pi8lV8DTF0
PSU Investment Mgmt.
28 Nov 15 17:55:56
Pfizer and Allergan agree to merge https://t.co/zuiuB3afad @Healthcare $PFE $AGN Largest pharma M&A, Deal Is About Tax Inversion
28 Nov 15 16:52:03
XOM Exxon Mobil Corp. Dividend https://t.co/9Z8z4uOfli $XOM $XOM $ELTP $PFE #XOM #stocks #share
28 Nov 15 16:51:10
XIV VelocityShares Daily Inverse VIX Short Term ETN Stock Forum https://t.co/FXVQeWyL6I $XIV $PFE $NATI $RSP #XIV #stocks #finance
28 Nov 15 16:49:32
UGAZ VelocityShares 3x Long Natural Gas ETN Ask https://t.co/ioD8KPGucv $UGAZ $PFE $COH $OVAS #UGAZ #pennystocks #share
28 Nov 15 15:44:04
PFE Pfizer, Inc. Open https://t.co/qKUPoF9nf7 $PFE $A $EEM $AKS #PFE #finance #stockmarket
28 Nov 15 15:38:04
FIT Fitbit, Inc. Shares https://t.co/D74PIeaGWM $FIT $PFE $RYKIX $DBA #FIT #invest #stocks
28 Nov 15 15:36:32
DY Dycom Industries, Inc. Message Board Posts https://t.co/HUHCXY47tq $DY $PFE $XLB $WMT #DY #tradeideas #pennystocks
28 Nov 15 14:45:06
PFE Pfizer, Inc. Chart https://t.co/gTe0LhobPf $PFE $EEM $FXI $XLK #PFE #nasdaq #nasdaq
28 Nov 15 14:44:56
RT @clayton_dd: A Agilent Technologies, Inc. EOD Data https://t.co/aZg6vaS35R $A $TSLA $NFLX $PFE #A #stock #pennystocks
28 Nov 15 14:44:04
NSRGY Nestle SA 52Wk High https://t.co/7IfZ4kcJe2 $NSRGY $UTX $ARIA $PFE #NSRGY #invest #invest
TalkMarkets Recap
28 Nov 15 14:39:04
10 Undervalued Companies for Enterprising Dividend Investors $DOW $F $IP $KIM $KKR $PFE $STWD $WNR $WY $STX https://t.co/G7mPvmJhIT
Stock Forums
28 Nov 15 14:34:33
AR Antero Resources Corp. EOD Data https://t.co/Tr38RjIKtL $AR $XLY $RUSS $PFE #AR #investing #invest
28 Nov 15 14:33:12
A Agilent Technologies, Inc. EOD Data https://t.co/aZg6vaS35R $A $TSLA $NFLX $PFE #A #stock #pennystocks
Rafa Valle
28 Nov 15 14:32:21
RT @biospace: As Pfizer $PFE-Allergan $AGN Marry, Already Planning the Divorce https://t.co/TVA4rgYzQP https://t.co/NkWfzWyAKz
28 Nov 15 14:17:57
RT @OpenOutcrier: $LAZ works with $SNY on $12.7 billion animal health unit deal https://t.co/TeDU1CsnMk $PFE $ZTS
28 Nov 15 14:17:42
RT @OpenOutcrier: $LAZ works with $SNY on $12.7 billion animal health unit deal https://t.co/sIpSby5Q2a $PFE $ZTS
Dr M Yousifمحمد يوسف
28 Nov 15 14:10:56
RT @biospace: Pfizer $PFE Allergan $AGN Merger Could Result in More Than 10,000 Layoffs, Analyst Says https://t.co/SXy0Rk9CsY https://t.co/…
28 Nov 15 14:08:05
$PFE Short Sales Updated Saturday, November 28, 2015 4:06:56 PM $CYCC $VZ $CTIX $XLY https://t.co/tSrq8UTVT3
28 Nov 15 14:08:04
$BIB Percent Change Updated Saturday, November 28, 2015 4:06:56 PM $XOM $TWMJF $PFE $CSCO https://t.co/4vSobhx4Xv
Roger Patterson
28 Nov 15 14:05:02
RT @muathe: [VIDEO] Weekend US Market Analysis 11/28/2015 $GE $SUNE $PFE $BAC $VXX $S $INTC $BABA $FCX $AAPL $HPQ $AA $T $SFUN https://t.co…
BioPharma Dive
28 Nov 15 13:18:10
The 'Pfallergan' fallout: Reactions to—and questions for—the biggest healthcare deal of all time https://t.co/1r81BkqbIv $PFE $AGN
28 Nov 15 13:10:00
$PFE - BUY Signal at 32.87 on Nov 25, 15 By https://t.co/6PpjiKmc9G, Trading Signals Robot #stock #trading #trade #investing
28 Nov 15 12:49:03
UHN United States Heating Oil Fund Financials https://t.co/Qf5Zd3lxVP $UHN $DIS $ANGI $PFE #UHN #stockmarket #pennystocks
By  +Follow July 30, 2013 8:52AM



blog comments powered by Disqus

 Today's Must Reads

What Crowdfunding Leaders Are Saying About the SEC’s Approval of Title III

How the Drug Price Scrutiny is Affecting Pharma Stocks

8 More Tips for Choosing the Right Crowdfunding Platform

Will the Post-Smartphone Era Bring Wearable Drones?

3 Cloud Stocks That Pay Dividends


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