Offbeat: Pfizer stock falls as sales miss expectations again - PressFrom - US

Offbeat Pfizer stock falls as sales miss expectations again

18:21  01 may  2018
18:21  01 may  2018 Source:

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Pfizer Inc on Tuesday reported lower-than- expected first-quarter revenue as demand for some key drugs and international sales fell short of estimates Despite strong growth, sales of oral rheumatoid arthritis drug Xeljanz and blockbuster breast cancer treatment Ibrance missed expectations largely

Pfizer said revenue declined in its latest quarter as sales of its top-selling product dropped, while the company’s sales outlook for this year fell below Wall Street’s expectations . Worldwide sales of Pfizer ’s pneumonia vaccine Prevnar fell 24% to .4 billion in the quarter, which the company

Pfizer reported another quarter of sluggish sales, increasing pressure on the drugmaker to make a deal and replenish its pipeline.

The New York company said Tuesday it still expects to make a decision on the future of its consumer health unit during the year. Investors have been anxious about getting an update on the business, which was valued at $20 billion. Its fate has been unclear since March when two potential buyers pulled out of the bidding process. Pfizer began reviewing the business, whose products include Advil and heartburn reliever Nexium, in October.

Revenue overall rose just 1 percent to $12.9 billion last quarter, lower than the $13.1 billion projected by analysts. Unlike most of its large-pharmaceuticals peers, Pfizer didn’t raise its outlook for the year.

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BroadSoft's (BSFT) reported second-quarter earnings and sales that beat analyst expectations Monday, but the telecom software provider missed on current-quarter guidance, sending shares down. X BroadSoft fell 4.3% to 40.90 on the stock market today. BroadSoft reported adjusted earnings of

US headline retail sales fell 1.2% MoM, while core sales fell 1.8% MoM, the data for December. Weaker data could have been affected by the US government shutdown. The bag of data from the US came in below expectations , this is especially true when it comes retail sales . Source: Bloomberg.

Shares fell 2.3 percent in early trading.

The quarter was dragged down by a 5 percent revenue decline from Pfizer’s division of older drugs, partly due to a 12 percent drop in sales for sterile injectible drugs tied to its Hospira product shortages.

The innovative health segment, which includes the newest drugs, was the bright spot, with 6 percent sales growth from a year earlier. Blood thinner Eliquis sales came in higher than expected, while its Prevnar vaccine franchise was in line with estimates after a 22 percent jump in sales outside the U.S. The company said it benefited from the drug’s inclusion in national immunization programs in some emerging markets.

Revenue from the consumer unit under review, which is part the innovative segment, gained 7 percent.

First-quarter earnings per share were 77 cents, excluding some items, Pfizer said in a statement, compared with the 75-cents average of estimates surveyed by Bloomberg.

Pfizer has faced pressure from investors to make deals and expand its pipeline of research. A proposed $160 billion merger with Allergan Plc was scrapped after the Obama administration cracked down on so-called inversion deals. Pfizer also attempted a $120 billion deal with British drugmaker AstraZeneca Plc.

Japanese drugmaker Takeda to buy Ireland's Shire .
<p>The Japanese drugmaker Takeda has agreed to buy Shire for $62.4 billion in cash and stock, one of the biggest deals ever in the pharmaceuticals industry, the companies said Tuesday.</p>Takeda will pay the equivalent of 49.01 pounds in cash and stock for each share of Shire, based on Takeda's closing share price on April 23, the day before a preliminary deal was announced.

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