American pharmaceutical firm Pfizer Inc on Tuesday announced the company’s 2025 profit and revenue figures which are roughly in line with estimates, and 2025 sales of its COVID-19 vaccine and drug to be consistent with current-year levels, reported Reuters.
Shares of the drugmaker rose nearly 3% to US$25.98 in premarket trading after the announcement. [US$1=RM4.465]
The company expects adjusted profit of US$2.80 to US$3.00 per share next year, compared with analysts’ average estimate of US$2.88 per share, according to data compiled by LSEG.
Pfizer also projected 2025 revenue within the range of US$61 billion to US$64 billion, compared with the estimates of US$63.26 billion.
The shares of Pfizer have fallen nearly 12% this year and is trading at less than half their value at the peak of the COVID-19 pandemic.
After the immense success of its COVID products during the pandemic years, the company is facing pressure to bring new drugs to the market to make up for the revenue loss from some of its top sellers that are likely to go off patent soon.
Some investors noted that the management has overspent on big acquisition deals and failed to produce profitable new drugs from those deals or from its internal research and development.
Pfizer CEO Albert Bourla, however, has defended his turnaround strategy as the company launches cost-cutting programs and sheds non-core businesses to pay down debt.
