Pfizer Earnings Beat Estimates in Q4 2024
Key Points:
* Revenue: $63.6 billion (full-year), up 7% YoY
* Earnings per share: $3.12 (full-year), surpassing estimates
* Revenue: $17.8 billion (Q4 2024), exceeding consensus
* Downsizing efforts to save $4.5 billion by 2025 and $1.5 billion by 2027
* Acquisition of Seagen and other smaller deals to offset patent expirations
* Medicare price negotiations for Ibrance and Xtandi
* Challenges include slowing enthusiasm for danuglipron and potential government pressure
Analysis:
Pfizer reported solid fourth-quarter and full-year earnings for 2024, beating expectations. The company continues to focus on cost-cutting measures to address declining COVID-19 product revenue. Pfizer's acquisitions, including Seagen, are expected to mitigate revenue losses from patent expirations. However, headwinds such as Medicare price negotiations, government stance on vaccines, and competition in the GLP-1 market remain concerns for investors.