BUZZ-PREVIEW: Pfizer expected to post quarterly revenue decline as key drug sales fall

Reuters
Feb 03
BUZZ-PREVIEW: Pfizer expected to post quarterly revenue decline as key drug sales fall

Pfizer's PFE.N shares up 0.2% at $26.49 ahead of its quarterly earnings report due before markets open on Tuesday

** In December, Pfizer said the next few years will be bumpy, beginning with 2026, due to lower sales of its COVID vaccine and treatment, price cuts promised to the U.S. government, and the expiration of patents on key drugs. The drugmaker forecast 2026 profit below Wall Street expectations

** PFE's revenue is estimated to drop ~5% to ~$16.95 bln while adj EPS is expected to drop 9.5% to 57 cents compared with 63 cents a year ago

** PFE's rev has met expectations six times over the last eight quarters while adj EPS has surpassed estimates every time in the same period

** President Donald Trump's administration has struck deals with PFE and other pharma companies that will slash the prices of their medicines for the government's Medicaid program and for cash payers

** PFE is up ~6% versus the S&P 500 healthcare index .SPXHC, which is up 0.2% over the same period

(Reporting by Chibuike Oguh in New York)

((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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