Pfizer Inc reported a higher-than-expected third-quarter profit on Tuesday on in...
) reported a higher-than-expected third-quarter profit on Tuesday on increased sales of cancer drug Ibrance and a strong launch of new heart medicine Vyndaqel, prompting the largest U.S. drugmaker to lift its earnings forecast for the year.
Pfizer Chief Executive Albert Bourla, on a conference call, also raised the 2019 revenue growth forecast for the company’s Upjohn unit in China to “mid-to-high single digits” from an earlier view of low-to-mid single digits, even as it prepares to spin off that business. Bourla said he envisions Pfizer as a “smaller, science-based company” following close of the Mylan deal, expected next year.
“Ibrance is back to strong growth after a period of slowing,” said UBS analyst Navin Jacob, adding that “the Vyndaqel number in particular is impressive.”
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