Brief: Pfizer Reaffirms Full-Year 2023 Financial Guidance

Seagen

02/05/2023 12:26

May 2 (Reuters) - Pfizer Inc  PFE.N :
    * PFIZER REPORTS FIRST-QUARTER 2023 RESULTS
    * REAFFIRMS FULL-YEAR 2023 FINANCIAL GUIDANCE
    * REVENUES ARE ANTICIPATED TO BE LOWER IN 2023 THAN IN 2022
DUE
ENTIRELY TO EXPECTED REVENUE DECLINES FOR PFIZER'S COVID-19
PRODUCTS
    * EXCLUDING COVID-19 PRODUCTS, COMPANY CONTINUES TO EXPECT
7% TO
9% OPERATIONAL REVENUE GROWTH IN 2023
    * SEES 2023 COMIRNATY REVENUES OF APPROXIMATELY $13.5
BILLION,
DOWN 64% FROM 2022 RESULTS
    * SEES 2023 PAXLOVID REVENUES OF APPROXIMATELY $8 BILLION,
DOWN
58% FROM 2022 RESULTS
    * FY2023 EARNINGS PER SHARE VIEW $3.36, REVENUE VIEW $68.67
BILLION -- REFINITIV IBES DATA
    * CONTINUE TO EXPECT SEAGEN TRANSACTION TO CLOSE IN LATE
2023 OR
EARLY 2024
    * EXPECT MAJORITY OF REVENUE GROWTH TO OCCUR IN SECOND HALF
OF
2023, GIVEN TIMING OF OUR EXPECTED NEAR-TERM LAUNCHES

Source text for Eikon:  ID:nBw7mMx5Ca 
Further company coverage:  PFE.N 

 ((Reuters.Briefs@thomsonreuters.com;))