Financial Performance - Full-Year 2024 Revenues reached $63.6 billion, reflecting a 7% Year-over-Year Operational Growth, with a 12% growth excluding contributions from Paxlovid and Comirnaty[4] - Fourth-Quarter 2024 Revenues totaled $17.8 billion, representing a 22% Year-over-Year Operational Growth, with an 11% growth excluding contributions from Paxlovid and Comirnaty[4] - Full-Year 2024 Adjusted Diluted EPS was $3.11, a 69% increase compared to the previous year[7] - Pfizer achieved a 12% operational revenue growth for non-COVID products in Full-Year 2024, demonstrating strong commercial execution[4] - Full-year 2024 revenues totaled $63.6 billion, an increase of $4.1 billion, or 7%, compared to full-year 2023[21] - Fourth-quarter 2024 product revenues increased by 22% to $15.084 billion compared to $12.339 billion in Q4 2023[35] - Total revenues for full-year 2024 reached $63.627 billion, a 7% increase from $59.553 billion in 2023[35] - The company reported a net income of $8.031 billion for full-year 2024, compared to $2.119 billion in 2023[35] - Diluted earnings per share for full-year 2024 were $1.41, up from $0.37 in 2023[35] - Non-GAAP adjusted net income for Full-Year 2024 was $17,716 million, with earnings per share of $3.11[51] Cost Management and Savings - The company is on track to deliver overall net cost savings of approximately $4.5 billion by the end of 2025 from its ongoing cost realignment program[4] - Pfizer's ongoing cost realignment program is expected to achieve approximately $4.5 billion in net cost savings by the end of 2025[28] - The company plans to return to a balanced capital allocation strategy by the end of 2025, including potential share repurchases[10] - Restructuring charges for full-year 2024 totaled $2.419 billion, a decrease of 18% from $2.943 billion in 2023[39] Research and Development - Pfizer invested $10.8 billion in internal research and development projects in 2024, aiming to enhance future growth prospects[12] - Adjusted R&D Expenses for Q4 2024 increased by 8% to $2,986 million, with full-year R&D Expenses at $10,694 million, a 1% increase from 2023[20] - Research and development expenses for full-year 2024 were $10.822 billion, a slight increase of 1% from $10.679 billion in 2023[35] Product Performance - The Global Biopharmaceuticals Business (Biopharma) reported Fourth-Quarter 2024 revenues of $17.4 billion, a 23% increase compared to the prior-year quarter[8] - The Vyndaqel family saw a 60% operational growth in Fourth-Quarter 2024, driven by strong demand and increased affordability[14] - The operational revenue growth was primarily driven by significantly higher global revenues for Paxlovid and the addition of legacy Seagen revenues following the acquisition in December 2023[21] - Primary Care revenues increased by 27% to $8,911 million in Q4 2024, compared to $7,044 million in Q4 2023[59] - Specialty Care revenues rose by 12% to $4,438 million in Q4 2024, compared to $3,953 million in Q4 2023[59] - Oncology revenues grew by 27% to $4,064 million in Q4 2024, compared to $3,189 million in Q4 2023[59] Future Guidance - Pfizer's 2025 financial guidance includes projected revenues in a range of $61.0 to $64.0 billion and Adjusted Diluted EPS in a range of $2.80 to $3.00[9] - Full-year 2025 financial guidance includes an anticipated unfavorable revenue impact of approximately $0.6 billion due to generic and biosimilar competition[30] Acquisitions and Strategic Moves - The company completed the acquisition of Seagen in December 2023, which is expected to enhance business development opportunities[68] - Pfizer sold 700 million ordinary shares of its investment in Haleon for total net consideration of approximately $3.0 billion, reducing its ownership interest from approximately 15% to 7%[25] - The company announced positive topline results from the pivotal Phase 3 CREST trial evaluating sasanlimab in combination with BCG for high-risk non-muscle invasive bladder cancer[24] - Pfizer's Commercial Oncology organization will transition into the U.S. Commercial organization effective January 1, 2025, creating a single U.S. commercial division[26] Regulatory and Market Challenges - Regulatory challenges include the need to address comments from authorities like the FDA and EMA, which could impact product approvals and market potential[68] - The company faces competition from new entrants, generics, and biosimilars, which may affect the marketing of both new and existing products[69] - There are uncertainties regarding the demand for COVID-19 products, which may lead to reduced revenues and excess inventory[69] - The impact of the Inflation Reduction Act of 2022 may affect pricing and access to medicines, influencing revenue streams[73] - The company is navigating legal and regulatory challenges that could impact operations and financial results, including potential changes in tax laws[73] Tax and Interest Expenses - The effective tax rate on reported income for Q4 2024 was 18.9%, compared to (24.0%) in Q4 2023[20] - The effective tax rate for Q4 2024 was 4,220.5%, compared to 19.2% in Q4 2023, influenced by changes in the jurisdictional mix of earnings[46] - In Q4 2024, net interest expense increased to $569 million, up from $80 million in Q4 2023, primarily due to lower interest income and higher interest expenses related to the $43.4 billion Seagen acquisition[42] - The full-year 2024 net interest expense reached $2.546 billion, significantly higher than $585 million in 2023, driven by the issuance of $31 billion in senior unsecured notes and $8 billion in commercial paper for the Seagen acquisition[42] Asset Impairments and Gains - Intangible asset impairment charges for Q4 2024 totaled $2.9 billion, including $1 billion for B7H4V and $475 million for Medrol, reflecting changes in development plans and competition[43] - Full-year 2024 included a $240 million intangible asset impairment charge related to a Phase 3 study for Duchenne muscular dystrophy, reflecting unfavorable clinical trial results[43] - The company recognized certain asset impairments of $(2,946) million in Fourth-Quarter 2024 and $(3,295) million for Full-Year 2024[51] Strategic Initiatives - The company announced a strategic reorganization to enhance focus and execution, including the creation of the Pfizer Oncology Division[64] - Pfizer plans to implement a Manufacturing Optimization Program to reduce costs, announced in May 2024[65] - The company is focused on achieving climate goals and advancing environmental sustainability initiatives[69] - The company is addressing cybersecurity risks, including potential disruptions from cyber-attacks and the integrity of information technology systems[73]

Albert Bourla, chairman and CEO of Pfizer, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024.Pfizer on Tuesday reported fourth-quarter earnings and revenue that beat estimates as sales of the company's Covid products topped expectations and cancer drugs from its acquisition of Seagen boosted revenue.Here's what the company reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per shar ...

Pfizer Inc. PFE will release its fourth-quarter financial results, before the opening bell, on Tuesday, Feb. 4, 2025.Analysts expect the New York-based company to report quarterly earnings at 46 cents per share, up from 10 cents per share in the year-ago period. Pfizer projects quarterly revenue of $17.26 billion, compared to $14.25 billion a year earlier, according to data from Benzinga Pro.On Monday, Pfizer revealed topline results from the progression-free survival (PFS) analysis of the Phase 3 BREAKWATE ...

Merck & Co Inc MRK and Pfizer Inc PFE are duking it out for investor attention with fourth-quarter earnings being reported on Tuesday.Both pharmaceutical heavyweights have very different technical setups, leaving investors to wonder which stock will have the upper hand.Let's break down the charts and what the technical signals are saying about each company as they prepare to report.Merck Stock's Mixed Signals: Bullish Short-Term, But Long-Term Resistance Looms Chart created using Benzinga ProMerck stock has ...

Pfizer’s (PFE) non-COVID operational revenues improved in the first three quarters of 2024, driven by its key in-line products like Vyndaqel and Eliquis, new launches like Abrysvo and newly acquired products like Nurtec as well as those acquired from Seagen (December 2023). The trend is expected to have continued in the fourth quarter.In the past year, Pfizer’s stock has declined 0.2% compared with a decrease of 2.5% for the industry. Image Source: Zacks Investment ResearchDrug Sales Estimates: Vyndaqel, Pr ...

Core Insights - Zacks Premium provides various tools to help investors make informed decisions and invest confidently in the stock market [1][2] Zacks Style Scores - Zacks Style Scores are indicators that assist investors in selecting stocks likely to outperform the market within 30 days, rated from A to F based on value, growth, and momentum characteristics [3] - The Value Score focuses on identifying undervalued stocks using financial ratios like P/E and Price/Sales [4] - The Growth Score evaluates a company's financial health and future outlook through projected earnings and sales [5] - The Momentum Score identifies optimal times to invest based on price trends and earnings estimate changes [6] - The VGM Score combines all three Style Scores, providing a comprehensive assessment of stocks based on value, growth, and momentum [7] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8][9] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B to maximize returns [10] Stock Example: Pfizer (PFE) - Pfizer operates in the biopharmaceutical sector, offering a range of drugs and vaccines, and currently holds a 3 (Hold) Zacks Rank with a VGM Score of A [12] - The stock has a Momentum Style Score of B, with a recent 0.3% increase in share price over the past four weeks, and upward revisions in earnings estimates for fiscal 2024 [13]

Core Viewpoint - Analysts project Pfizer's quarterly earnings to be $0.48 per share, reflecting a 380% year-over-year increase, with revenues expected to reach $17.5 billion, a 22.8% increase from the same quarter last year [1]. Earnings Estimates - The consensus EPS estimate has been revised downward by 3% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Pfizer Biopharma- Worldwide' revenues at $17.00 billion, indicating a year-over-year change of +22.6% [5]. - 'Revenues- Specialty Care- Vyndaqel family- Worldwide' are projected to reach $1.52 billion, reflecting a +57.9% year-over-year change [5]. - 'Revenues- Primary Care- Comirnaty direct sales and alliance revenues- Worldwide' are expected to be $3.27 billion, showing a -39.1% year-over-year change [6]. - 'Revenue- Primary Care- Nurtec ODT/Vydura- Worldwide' is projected at $384.55 million, indicating a +36.4% year-over-year change [6]. Regional Revenue Insights - 'Pfizer Biopharma- United States' is estimated at $9.29 billion, reflecting a +106.8% change from the year-ago quarter [7]. - 'Pfizer Biopharma- Total International' is projected to reach $7.71 billion, indicating a -17.7% change from the prior-year quarter [7]. - 'Revenue- Primary Care- Comirnaty direct sales and alliance revenues- Total International' is expected to be $2.43 billion, showing a -43.4% year-over-year change [8]. - 'Revenue- Primary Care- Paxlovid- Total International' is projected at $214.42 million, indicating an +88.1% year-over-year change [8]. Additional Revenue Metrics - 'Revenue- Primary Care- Nurtec ODT/Vydura- United States' is expected to be $358.64 million, reflecting a +30.4% change from the year-ago quarter [9]. - 'Revenue- Primary Care- Nurtec ODT/Vydura- Total International' is projected to reach $25.91 million, indicating a +270.1% year-over-year change [9]. - The average prediction for 'Revenue- Primary Care- United States' is $4.14 billion, reflecting a +426.4% year-over-year change [10]. - 'Revenue- Primary Care- Total International' is expected to be $4.50 billion, indicating a -27.4% change from the year-ago quarter [10]. Stock Performance - Pfizer shares have changed by +0.3% in the past month, compared to the Zacks S&P 500 composite's +1.2% move, with a Zacks Rank 3 (Hold) indicating expected performance closely aligned with the overall market [10].

Group 1 - The marketplace channel Haggerston BioHealth offers exclusive stock tips focused on Pharma, Biotech, and Healthcare, providing access to investment bank-grade financial models and research [1] - The group caters to both novice and experienced biotech investors, offering insights on catalysts, buy and sell ratings, product sales forecasts, and integrated financial statements [2] - Edmund Ingham, a biotech consultant with over 5 years of experience, leads the Haggerston BioHealth investing group and has compiled detailed reports on over 1,000 companies [2]

Core Viewpoint - Pfizer's shares increased nearly 3% following the news that activist investor Starboard did not nominate any directors to the board ahead of the January 25 deadline, indicating a less confrontational approach for this year [1] Group 1: Starboard's Influence - Starboard may attempt to make changes to Pfizer's board next year if no agreement is reached [2] - Starboard previously accused Pfizer's management of poor capital allocation, R&D failures, and issues with forecasting and budgeting, having built a $1 billion position in the company [3] - At an investor summit, Starboard publicly criticized Pfizer for not generating sustainable revenues from R&D and M&A activities [5] Group 2: Financial Performance and Market Value - Pfizer's shares have declined by 2.3% over the past year, while the industry has seen a growth of 0.2% [4] - Starboard highlighted that Pfizer has invested approximately $70 billion in acquisitions since the pandemic, claiming the company overpaid for these deals [7] - The decisions made by Pfizer have reportedly led to a loss of nearly $20-$60 billion in market value since 2019, despite a $40 billion boost from its COVID-19 franchise [8] Group 3: Capital Allocation Concerns - Starboard emphasized the importance of capital allocation discipline and requested the board to hold management accountable for incorrect capital allocation decisions [9]

Core Viewpoint - Pfizer is set to report its fourth-quarter and full-year 2024 earnings on February 4, with consensus estimates for sales at $17.50 billion and earnings at 48 cents per share, while 2025 earnings estimates have slightly declined from $2.92 to $2.88 per share [1][2]. Earnings Performance - Pfizer has consistently exceeded earnings expectations in the past four quarters, achieving an average earnings surprise of 74.50%, with the last quarter showing a surprise of 65.62% [2][3]. Revenue Estimates - The Zacks Consensus Estimate for direct sales and alliance revenues from the COVID-19 vaccine Comirnaty is $3.27 billion, while Paxlovid is estimated at $589.0 million [7]. - Non-COVID operational revenues have improved, with estimates for Vyndaqel/Vyndamax sales at $1.52 billion and Eliquis alliance revenues at $1.66 billion [8][9]. - Sales for the Prevnar family of vaccines are estimated at $1.56 billion, while the model estimates are slightly lower at $1.53 billion [10]. Product Performance - Sales of key oncology products like Ibrance may have declined due to competitive pressures, but other products such as Xtandi and Padcev are expected to have performed well [11]. - Newly launched drugs and acquisitions are anticipated to contribute positively to top-line growth, with several new therapies expected to drive revenue [12]. Stock Performance and Valuation - Pfizer's stock has decreased by 12.6% over the past six months, slightly better than the industry average decline of 13.0% [14]. - The stock is trading at a forward P/E ratio of 9.28, which is lower than the industry average of 16.0 and its own 5-year mean of 11.22, indicating attractive valuation [16]. Future Outlook - Pfizer expects a revenue CAGR of approximately 6% from 2025 to 2030, driven by new products and acquisitions [19]. - The company maintains a strong cash position from COVID product profits, which supports dividends, share buybacks, and debt reduction [22].