Pfizer beats and raises its earnings forecast (PFE)

Pfizer CEO Ian ReadREUTERS/Adam Hunger

  • Pfizer reported adjusted earnings that topped Wall Street estimates thanks to strong sales of pneumonia vaccine Prevnar and arthritis drug Xeljanz.
  • The drugmaker raised its adjusted earnings forecast, but lowered its revenue forecast.

(Reuters) - U.S. drugmaker Pfizer Inc posted a better-than-expected quarterly profit on Tuesday, driven by higher sales of pneumonia vaccine Prevnar and arthritis drug Xeljanz.

The company lowered its 2018 revenue expectation to between $53 billion and $55 billion, from $53.5 billion to $55.5 billion, due to a strengthening dollar.

See the rest of the story at Business Insider

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