Pfizer Inc. (NYSE:PFE) will hold an investor call on Tuesday to provide full-year 2025 financial guidance.
Ahead of the call, Goldman Sachs outlined its expectations for the guide and commentary on the year ahead.
The analyst expects Pfizer management to expect earnings per share in the mid-to-high range of $2, with core business growth in 2024 offset by the $0.30 in favorable but one-time items.
Pfizer highlighted several factors impacting 2024 earnings per share that will not carry over into 2025.
Earnings per share for 2024 includes one-time increases: a $1.2 billion benefit from Paxlovid stockpiling and a true-up of the US government and equity income from its stake in Haleon Plc (NYSE:HLN). However, Haleon revenues will not appear in 2025 as Pfizer’s stake in Haleon falls below 20%.
Goldman forecasts 2025 revenue of $64.9 billion and earnings per share of $3.13, which compares with consensus estimates of $63.2 billion and $2.89, respectively.
Goldman Sachs notes that the impact of the IRA Part D redesign will likely be addressed in the company’s 2025 guidance. However, the analyst does not expect the details to be broken down by individual products, but instead based on the total commercial portfolio.
The analyst expects Paxlovid to achieve revenues of $4.3 billion versus a consensus of $3.7 billion, although slightly more conservative on Vyndaqel revenues of $5.9 billion versus a consensus of $6.2 billion.
Year-to-date, Eliquis has performed well, growing 12% due to market expansion and increased market share. This growth was supported by Pfizer’s commercial team and spurred by Part D’s catastrophic messaging in 2024.
Looking ahead to 2025, Pfizer expects continued growth opportunities, driven by market expansion and the potential for further market share gains.
“We highlight momentum on key topics and frame potential talking points with potential read-across beyond Pfizer specifically, noting that they are the only major pharmaceutical company in our coverage that we expect to voice an opinion in 2025, ahead of the new year,” says Goldman. writes analyst.
Price promotion: PFE stock was down 0.39% to $25.48 at last check Monday.
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|
Date |
Sturdy |
Action |
By |
Nasty |
|---|---|---|---|---|
|
February 2022 |
Morgan Stanley |
Maintains |
Equal weight |
|
|
January 2022 |
Wells Fargo |
Maintains |
Overweight |
|
|
January 2022 |
B of A securities |
Upgrades |
Neutral |
Buy |
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