Pfizer (PFE) reported the fourth quarter and the full year 2024 win results on Tuesday, closely defeating Wall Street’s expectations and remained flat after the opening market.
Pfizer reported a turnover of $ 63.6 billion for the entire year, an increase of 7% compared to 2023. The turnover of the entire year reports Wall Street Consensus estimates of $ 62.9 billion and profit per share of $ 3.12 beat -estimates of $ 2.97.
For the fourth quarter of 2024, Pfizer reported $ 17.8 billion, compared to consensus estimates of $ 17.3 billion, which marked an increase of 21% compared to the same quarter in 2023.
The company continues to concentrate on contraction as COVID-19 product income and demand decrease because it has to appease a dubious Wall Street about its future. Pfizer has announced a plan to realize $ 4.5 billion in savings towards the end of 2025 and an extra $ 1.5 billion in 2027 of things such as the shrinking of production and cutting a few R&D programs.
The company also succeeded in avoiding an activist acquisition of his administration earlier this year, giving it a boost in the midst of various other headwinds who will continue to fight until 2025.
Investors remain vigilant while Pfizer continues to build his pipeline and realizes returns on recent acquisitions – which the company needs to balance income losses that are expected by the end of patent this decade. This includes cancer medicines of the acquisition of $ 43 billion, as well as other smaller deals in the past two years.
Pfizer is also confronted this year with another year of Medicare price negotiations, after having to negotiate blood thinner Eliquis last year, made with Bristol Myers Squibb (BMY). The new list includes the breast cancer drug and the drug of prostate cancer Xtandi. With three drug prices checked by Medicare, Plus potential negative impact of the position of the new Trump administration on vaccines and approvals that go further, the company is confronted with some exposure to pressure from government actions.
Another headwind for Pfizer is the delay in enthusiasm about his oral GLP-1 candidate, Danuglipron. The company was once seen as able to compete with market leader Eli Lilly (LLY) in the pill category, but Lilly is now further ahead in his clinical test. Pfizer’s phase I study officially ended in January, but the results of the weight loss data were not shared.
“I am enthusiastic about what awaits us and convinced that we will improve the shareholder value, because we are sharpening our Focus to improve the productivity of our R&D pipeline and to promote the clear strategic priorities that guide our company in 2025 , “said CEO Albert Bourla in a statement.