Pfizer Inc. (NYSE: PFE), a leading US pharmaceutical company, has announced its financial results for the second quarter of 2024, showing a 3% year-on-year (YOY) increase in global revenues in constant currency terms, reaching USD 13.283 billion. This marks the first quarter of positive growth for Pfizer since the peak in COVID-related revenues in Q4 2022. Excluding COVID-related sales, the company’s revenues saw a more substantial YOY growth of 14%.
The financial results were bolstered by significant contributions from antibody drug conjugate (ADC) drugs acquired from Seagen, which generated USD 845 million in revenues. Other notable performers included the heart failure therapy Vyndaqel (tafamidis meglumine), which experienced a 71% increase, and the migraine therapy Nurtec ODT (rimegepant), with a 44% YOY growth. Additionally, the blood thinner Eliquis (apixaban), co-developed with Bristol-Myers Squibb, continued to be a strong contributor, showing an 8% YOY growth.
In response to these positive results, Pfizer has raised its full-year 2024 revenue guidance by USD 1 billion, setting a new range of USD 59.5 to USD 62.5 billion. The company has also increased its earnings per share (EPS) guidance, now projecting a full-year 2024 operational revenue growth of 9%-11%, an upward revision from the previous forecast of 8%-10% (excluding COVID-related sales).- Flcube.com
