{"id":10452,"date":"2024-10-30T16:42:38","date_gmt":"2024-10-30T08:42:38","guid":{"rendered":"https:\/\/flcube.com\/?p=10452"},"modified":"2024-10-30T16:42:40","modified_gmt":"2024-10-30T08:42:40","slug":"pfizer-reports-strong-q3-results-boosts-2024-guidance-to-61-64-billion","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=10452","title":{"rendered":"Pfizer Reports Strong Q3 Results, Boosts 2024 Guidance to $61-$64 Billion"},"content":{"rendered":"\n

Pfizer Inc. (NYSE: PFE<\/a>) released its Q3 2024 financial results, reporting revenues of $17.702 billion for the third quarter, a 32% year-on-year (YOY) increase at constant exchange rates. For the first nine months of the year, revenues totaled $45.864 billion, reflecting a 3% YOY growth. This strong performance has prompted the company to elevate its 2024 financial guidance by $1.5 billion, now projected in the range of $61 billion to $64 billion.<\/p>\n\n\n\n

In terms of business segments, Primary Care generated $9.06 billion in sales, a substantial 44% YOY increase. Specialty Care revenues rose 15% YOY to $4.289 billion, while Oncology surged 31% YOY, reaching $4.043 billion.<\/p>\n\n\n\n

Within the Primary Care segment, Paxlovid continued to show robust demand, generating $2.7 billion in revenues, an operational increase of $2.5 billion compared to the prior year. This growth was largely driven by heightened utilization during a recent global COVID-19 wave, including a one-time delivery of one million Paxlovid treatment courses to the U.S. Strategic National Stockpile, which contributed $442 million in revenue. Additionally, the COVID-19 vaccine Comirnaty reported $1.4 billion in sales, up 9% YOY. Excluding Comirnaty and Paxlovid, operational revenues for Q3 2024 grew 14% YOY to $13.6 billion.<\/p>\n\n\n\n

In Specialty Care, the Vyndaqel family of rare disease therapies saw sales soar 63% YOY to $1.447 billion, fueled by strong demand in both the U.S. and international developed markets.<\/p>\n\n\n\n

In Oncology, Ibrance (palbociclib) led sales at $1.087 billion, despite a 12% YOY decline. Androgen receptor inhibitor Xtandi (enzalutamide) followed with $561 million in sales, marking a 28% YOY increase. Meanwhile, Seagen’s antibody-drug conjugates\u2014Padcev (enfortumab vedotin), Adcetris (brentuximab vedotin), Tukysa (tucatinib), and Tivdak\u2014collectively generated $835 million.<\/p>\n\n\n\n

Most of Pfizer’s pipeline developments are progressing well, although a Phase III trial for its gene therapy for fordadistrogene movaparvovec in Duchenne muscular dystrophy did not meet its primary endpoint.- Flcube.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Pfizer Inc. (NYSE: PFE) released its Q3 2024 financial results, reporting revenues of $17.702 billion…<\/p>\n","protected":false},"author":1,"featured_media":10454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[27,863,309],"class_list":["post-10452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","tag-finanical-reports","tag-nyse-pfe","tag-pfizer"],"yoast_head":"\nPfizer Reports Strong Q3 Results, Boosts 2024 Guidance to $61-$64 Billion - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Pfizer Inc. 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