Pfizer Beats Estimates and Gains from Legal Wins
Pfizer reported first quarter sales of $14.45 billion and adjusted profit of 75 cents per share, exceeding analyst expectations despite declining COVID product revenue. The drugmaker expects recent patent settlements and European court rulings to significantly bolster its long-term growth profile through 2031.
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PFIZER INC reported first-quarter revenue of $14.45 billion on Tuesday, exceeding analyst estimates of $13.79 billion. The results reflect a 22% growth in newly launched and acquired medicines, helping the drugmaker offset a 59% decline in COVID-19 vaccine sales. Investors are monitoring the company's ability to bridge revenue gaps before major patent expirations and obesity drug launches slated for 2028.
