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    • Pfizer cancer drug...

    Pfizer cancer drug Ibrance higher sales beat Q3 profit estimates

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-10-30T09:30:41+05:30  |  Updated On 16 Aug 2021 2:42 PM IST

    Pfizer said it expects to earn between $2.94 per share and $3.00 per share, up from a prior estimate of $2.76 to $2.86. Analysts on average were expecting $2.82 per share, according to Refinitiv IBES.


    New Delhi: Pfizer Inc posted a third-quarter profit well ahead of analysts' estimates on higher sales of breast cancer drug Ibrance and raised its earnings forecast for the year, sending the largest U.S. drugmaker's shares up 3%.


    Under Chief Executive Officer Albert Bourla, who took office at the start of the year, Pfizer has streamlined operations and announced in July it would separate its off-patent branded drugs business and combine it with generic drugmaker Mylan NV.


    Ibrance sales rose 25% to $1.28 billion in the quarter, ahead of the average estimate of $1.21 billion, according to numbers compiled by brokerage UBS.


    The company said it expects to earn between $2.94 per share and $3.00 per share, up from a prior estimate of $2.76 to $2.86. Analysts on average were expecting $2.82 per share, according to Refinitiv IBES.


    Read Also: Bristol Myers Squibb-Pfizer Alliance in collaboration with Fitbit to take on Apple Watch


    Net income attributable to Pfizer's shareholders rose to $7.68 billion, or $1.36 per share, in the quarter, from $4.11 billion, or 69 cents per share, a year earlier.


    Excluding special items, the company earned 75 cents per share, easily beating the average estimate of 62 cents.


    Total revenue fell 5% to $12.68 billion as sales of pain treatment Lyrica, which recently lost patent protection in the United States, more than halved to $527 million.


    Read Also: AstraZeneca, Pfizer, Takeda Pharma ink agreement with ImaginAb to develop tumour imaging technology

    breast cancer drugcancerFinancial resultsIbranceLyricaMylanpain treatmentPfizerPfizer q3pharmapharma companypharma newsQ3third quarter results
    Source : Reuters

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    Medical Dialogues Bureau
    Medical Dialogues Bureau

      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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