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DOSSIER – This archival photo of December 4, 2017 shows a tablet of Pfizer's Viagra, left, and the generic version of the company, Sildenafil Citrate, at Pfizer Inc.'s headquarters in New York. Pfizer Inc. Announces its Results on Tuesday, October 30, 2018. lessDOSSIER – This archival photo of December 4, 2017 shows a tablet of Pfizer's Viagra, left, and the generic version of the company, Sildenafil Citrate, at Pfizer Inc.'s headquarters in New York. Pfizer Inc. Announces Results … more
Photo: Richard Drew, AP
Photo: Richard Drew, AP
Pfizer's third-quarter earnings increased 45%, helped by a significant drop in taxes due to this year's federal tax cut and a slight increase in revenues.
The manufacturer of Viagra and the treatment of neuralgic pain Lyrica announced Tuesday a net profit of 4.11 billion dollars, or 69 cents per share.
Recognized for its gains and exceptional costs, the New York drug maker said its income was 78 cents a share. That exceeded analysts' expectations for a profit of 76 cents per share, according to Zacks Investment Research.
Revenues reached $ 13.3 billion, up 1%, driven by Lyrica, Eliquis, an anti-stroke drug, and Prevnar 13 against pneumococcal infections in Canada. 39, origin of headaches, blood infections and pneumonia.
Pfizer reduced its full-year earnings guidance to earnings per share in the range of $ 2.98 to $ 3.02 from $ 2.95 to $ 3.05 per share in July. The company also reduced and lowered its revenue forecast for 2018 from $ 53 billion to $ 53.7 billion, from $ 53 billion to $ 55 billion.
Long-time CEO Ian Rad, who will be replaced in January by Albert Bourla, chief executive of Pfizer, said in a statement that he was confident in the new management team that Bourla was building. Chief Financial Officer Frank D & # 39; Amelio, Research Director Mikael Dolsten, and other long-term executives will remain, but new leaders will lead Pfizer's innovative medicines business and its core segment of health, which mainly sells non-patented medicines.
In pre-market trading, shares of Pfizer Inc. fell $ 1.54, or 3.6%, to $ 41.69. Pfizer shares have climbed 19% since the beginning of the year.
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Follow Linda A. Johnson at https://twitter.com/LindaJ_onPharma.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a report on Zacks' actions on PFE at https://www.zacks.com/ap/PFE.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a report on Zacks' actions on PFE at https://www.zacks.com/ap/PFE.
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