Results for: Pfizer

Pfizer’s experimental drug, ponsegromab, has shown positive results in treating cancer cachexia, a life-threatening condition that causes weight loss in cancer patients. The drug could become the first approved treatment for this condition in the US, potentially saving many lives. Meanwhile, Moderna and Merck are also making strides in cancer treatment with their experimental cancer vaccine and immunotherapy drug combination. Mainz Biomed is advancing early cancer detection with its ColoAlert colorectal cancer test, emphasizing the importance of early screening.

Valneva and Pfizer announced positive immunogenicity and safety data from their Phase 2 study of a second booster dose for their Lyme disease vaccine candidate, VLA15. The data shows a robust immune response and a favorable safety profile, with the second booster providing similar benefits to the first. The companies are currently conducting two Phase 3 trials with the goal of submitting marketing applications to the FDA and EMA in 2026.

Pfizer and BioNTech’s combined mRNA vaccine for influenza and COVID-19 has shown mixed results in a Phase 3 trial. While it met one of its primary immunogenicity objectives, it demonstrated lower responses against the influenza B strain compared to a licensed flu vaccine. The companies are evaluating adjustments to improve the vaccine’s effectiveness.

Pharmaceutical giant Pfizer has settled thousands of lawsuits alleging it failed to disclose the potential cancer risks associated with its heartburn drug, Zantac. The agreement covers a significant portion of the approximately 70,000 lawsuits filed in Delaware. The company has previously settled similar cases brought by other manufacturers of Zantac, including GSK and Sanofi. Financial details of the settlement are not yet available. However, the development is expected to provide relief to investors who have seen Zantac-related concerns wipe out billions of dollars in market value for drugmakers in the past. The drug’s active ingredient, ranitidine, has been linked to the formation of NDMA, a probable carcinogen, leading to its recall in 2019 by the FDA.

Pfizer Inc. (PFE) reported first-quarter earnings on Wednesday, beating consensus estimates. Adjusted earnings per share (EPS) came in at 82 cents, down 33% year-over-year but above the consensus of 54 cents. Sales declined 20% to $14.9 billion, but still exceeded the consensus forecast of $14.2 billion. The decline in revenue was attributed to lower sales of Comirnaty and Paxlovid, as well as a negative impact from foreign exchange. Despite the mixed results, analysts maintained positive ratings and price targets for Pfizer shares. Goldman Sachs reiterated its Buy rating with a price target of $31, while BMO Capital raised its target from $33 to $36 and maintained its Outperform rating. Bank of America Securities retained a Neutral rating with a price target of $35. Goldman Sachs noted that Pfizer’s shares outperformed after the earnings and interpreted the stronger-than-expected Paxlovid results as aligning with the company’s cautious optimism regarding the near-term outlook. The company’s key takeaways included strong performance from Padcev, Prevnar, and Vindaqel, while execution with Nurtec and Oxbryta remains a challenge. Goldman also highlighted Abrysvo’s potential as a catalyst in the future. BMO Capital highlighted Pfizer’s renewed focus on oncology, RSV, and hematology, suggesting that this could be the pivot investors have been waiting for. The firm expects margin improvement and guidance that reflects well-managed expectations with room for upside on the top and bottom lines. BofA Securities remained focused on Pfizer’s six new product launches and two label expansions, with growth currently stemming from Padcev’s label expansion. However, the firm is uncertain when other important products will experience significant changes in 2024 due to reimbursement and access challenges. Pfizer shares gained 2.15% to $27.77 in Thursday’s trading.

Pfizer Inc. (PFE) released its first-quarter 2024 financial results, showing a decline in adjusted earnings per share (EPS) due to lower COVID-19 product revenues. Despite the drop, Pfizer beat consensus estimates on both EPS and sales. Key highlights include:

* Adjusted EPS: $0.82, down 33% year-over-year, but exceeding the consensus of $0.54.
* Sales: $14.9 billion, down 20%, but beating the consensus of $14.2 billion.
* Comirnaty (COVID-19 vaccine) revenues: $354 million, down 88% due to lower demand and seasonality.
* Paxlovid (COVID-19 antiviral) revenues: $2 billion, down 50%.

Pfizer reiterated its 2024 revenue forecast of $58.5 billion-$61.5 billion, including $8 billion from COVID-19 products. The company expects 90% of vaccine sales to occur in the second half of the year, primarily in Q4. Pfizer’s direct-to-consumer platform, enabling patients to order medications online, reflects the industry’s shift towards bypassing traditional distribution channels.

Pfizer reported first-quarter revenue and earnings that beat expectations on Wednesday, driven by strong sales of its non-Covid products and its cost-cutting program. The company raised its full-year profit outlook, forecasting adjusted earnings of $2.15 to $2.35 per share, up from its prior guidance of $2.05 to $2.25 per share. Pfizer remains confident in its business and its ability to reduce costs, aiming to achieve $4 billion in savings by the end of the year. The results reflect Pfizer’s efforts to offset the decline in its Covid-related revenue, which has plunged due to decreased demand and the transition to the commercial market. The company is focusing on treating cancer, including its $43 billion acquisition of Seagen, to drive growth and improve its bottom line.

The week of April 18-21, 2023, marks a pivotal juncture in the earnings season, with about 160 S&P 500 companies scheduled to disclose their financial results. Among the highly anticipated reports are those from Apple, Amazon, McDonald’s, Pfizer, and Coca-Cola. As of Friday’s market close, over 200 S&P 500 members had released their first-quarter earnings, with 80% surpassing analyst expectations. However, tech titans like Meta Platforms and IBM have recently stumbled after announcing their financial performance.

Moderna Inc. has filed a patent infringement lawsuit against Pfizer Inc. and BioNTech SE in a London court, alleging that the companies’ COVID-19 vaccine infringes on Moderna’s mRNA technology patents. Pfizer and BioNTech have denied the allegations and asserted that their patent is invalid. The outcome of the lawsuit could have significant implications for the mRNA vaccine market and the future of mRNA-based products.

Vaccine giants Pfizer and Moderna are embroiled in a legal battle over the use of mRNA technology in their respective Covid-19 vaccines. The dispute has sparked parallel litigation in multiple countries, with Moderna accusing Pfizer and its partner BioNTech of patent infringement. Pfizer and BioNTech deny the allegations and seek to revoke Moderna’s patents. The trial in the London High Court is expected to last three and a half weeks and focus on the validity of two Moderna patents.