Pfizer beats profit estimates on steady COVID products demand
on Tuesday beat estimates for first-quarter revenue and profit, helped by steady demand for its COVID products and reaffirmed its annual earnings forecast as it banks on newer drugs to contribute to growth later this year.
Wells Fargo analyst Mohit Bansal said the intact COVID sales outlook was a positive surprise as he had expected Pfizer to lower that forecast. Pfizer is preparing to launch its RSV vaccine as well as its ulcerative colitis and hair loss drugs by the end of this year, pending regulatory decisions in the United States.
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