Pfizer tops first quarter profit estimates on drug demand
Pfizer reported adjusted earnings of 75 cents per share on revenue of $14.45 billion. Strong demand for older drugs offset declining COVID product sales.
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PFIZER INC reported first-quarter adjusted profit of $0.75 per share on Tuesday morning, beating analyst estimates of $0.72 per share. Total revenue reached $14.45 billion, exceeding the $13.79 billion projected by LSEG data. Strong performance in legacy drugs is offsetting sharp declines in COVID-related product sales as the drugmaker navigates patent cliffs.
