RE:Pfizer response to questions on M&A -> add value to companySee Pfizer Q3 earnings below which follow Albert Bourla's comments below. October 17, 2022 - Yahoo Finance interviews Pfizer CEO Albert Bourla
Question - Yahoo Finance - You have a lot of cash to make more, are you going to be making a lot more acquisitions, and I think we've talked about this in the past. Maybe not as large as legacy Pfizer, but maybe these sorts of mid-sized acquisitions, is that the path you see going forward?
Response - Albert Bourla CEO Pfizer - "I think so. This is what we have told our shareholders and this is what we believe that it is the best value creation. We want to acquire science at early stages that we can add value to it by bringing our manufacturing capabilities, our clinical development capabilities. https://ca.finance.yahoo.com/video/pfizer-ceo-company-future-investing-192121412.html
On November 01, 2022 - Pfizer gave its Q3 earnings report and raised its 2022 earnings guidance after booking a strong third quarter that beat Wall Street expectations.
It now expects earnings per share of $6.40 to $6.50 for the year, up from its previous forecast of $6.30 to $6.45. The pharmaceutical company also raised the lower end of its sales guidance and now expects revenue of $99.5 billion to $102 billion for the year.
Pfizer raised its full-year sales guidance for its Covid-19 vaccine to $34 billion this year, up $2 billion from the company’s previous expectations. It is maintaining revenue expectations of $22 billion for the antiviral pill Paxlovid.
Pfizer reported Q3 earnings as:
- Adjusted EPS: $1.78 per share vs. $1.39 expected
- Revenues: $22.6 billion vs. $21 billion expected
Pfizer had net income of $8.6 billion for the third quarter, a 6% increase over the same quarter last year.