American global pharmaceutical
corporation Pfizer surpassed the forecasted profit of the market analysts on
its recent second quarter earnings report. Due to the significant contribution
of sales of the newly developed drugs, Pfizer posted revenue of $13.15 billion.
Advancing for almost 11 percent,
the pharmaceutical company managed to beat the expected $13.01 billion declared
by the analysts. Driver of this growth was the upbeat sales of the generic
medicines which accumulated $6.04 billion, increasing for almost 15.7 percent.
Adding to this, the company had $7.11
billion total sales of the array of patent-protected drugs. This was in-line
with the acquisition of the Hospira which had a total sale of $1.14 billion
from its wide selection of drugs and equipment primarily used in the hospitals.
Moreover, Pfizer’s Ibrance made $514
million, beating the expected $496 million and almost three times higher than
the $140 million from the same period in 2015. The company also exceeded the 2
cents per share concluded by the analysts from its cancelled transaction with
Allergan when it announced 64 cents per share.
However, the total net income of
Pfizer was down by 33 cents to $2.02 billion. The pain medicine Lyrica fell
short from the expected $1.16 billion as it earned $1.05 billion while Prevnar
vaccine gained $1.26 billion lower than the forecasted $1.58 billion.
Most of the investors kept their
attention on the speculated split up of the company. Based on reports, Pfizer
has been considering dividing the corporation into a research-driven treatment
sector and to an older products specialist sector.
Pfizer Recent Acquisition
Recently, Pfizer completed the $150
million deal with Gene Therapy Firm Bamboo to expand the influence of the pharmaceutical
company in the biotechnology. Mikael Dolsten, Pfizer’s head of research and
development, stated ‘The field of gene therapy research has made tremendous
strides in recent years, and we are pleased to be able to further enhance our
leadership position in this area through this transaction with Bamboo.”
The company believed that the gene
therapy holds the promise of bringing true disease modification for patients
suffering from devastating diseases.
Jude Samulski, Bamboo’s chief
scientific officer and a co-founder of the company added that recent
acquisition represents a significant step toward bringing Bamboo’s portfolio
into the clinic and, ultimately, potential new medicines to patients.
Pfizer Stock Performance
As the market watched closely on
the earnings report of Pfizer, the shares of the stocks stayed flat at $37.21
moving away from the pre-market loss of 1.23 percent to $36.85. It has a market
capitalization of 228.86 billion and a dividend yield of 3.22 percent.
Currently, the stock has a price
earnings ratio of 30.57 with consensus price target of $39.07. Pfizer has a 52-week high of $37.39 and its
52-week low stands at $28.25. It has an average trading volume capacity of 24.47
million shares.
Looking for the most trusted
financial service provider? Here's Exo Capital
Markets. Exo Capital Markets aims to
provide the financial ideas needed by the clients through the market news and
analysis delivered regularly. Exo Capital
Markets offers a wide array of reliable, secure, and competitive financial
services to over 100 countries.
Market analysis? Technical
charts? Trading eBooks? Economic Calendar. You may be searching for the most
user-friendly and educational trading platform. Trade12 provides everything that you need to
know about the market today. Open a live account now atTrade12.
Is binary trading all new to you?
Then, Options12.com could be the
perfect choice for you! Options12.com
provides the most efficient online trading platform geared with the advanced
technology and delivers a simplified trading environment both for amateur and
experienced traders, with limited trade risk and short term expirations.
No comments:
Post a Comment