Pfizer (NYSE: PFE) lifted and tightened its full-year earnings guidance for a second straight quarter after third-quarter results benefited from robust demand for its Eliquis blood thinner and a recovery in cardiovascular therapies. The company increased its annual diluted EPS range to $3.00 to $3.15 from $2.90 to $3.10, and reaffirmed full-year revenue of $61 billion to $64 billion as it continued to diversify beyond waning COVID-19 vaccine and antiviral sales.
Adjusted EPS for the quarter was $0.87 on revenue of $16.65 billion, ahead of expectations of $0.63 and $16.59 billion, respectively. Eliquis sales rose 22% to $2.02 billion, and higher demand for heart disease drugs added support. The company has been cutting costs and rolling out new products while navigating litigation surrounding Metsera, including lawsuits tied to Novo Nordisk’s unsolicited bid following Pfizer’s prior $7.3 billion agreement with the target. Pfizer also cited its agreement with the U.S. administration to lower Medicare drug prices in exchange for three years of tariff relief as providing greater policy visibility.
