US drugmaker Pfizer is becoming more confident about the current year. With a good run, the group raised the bottom line growth forecast when delivering the third-quarter numbers and also raised its adjusted earnings per share forecast.
Third-quarter results showed commercial strength in many areas of the business, but it was somewhat overshadowed by the strong performance last year, Chief Financial Officer David Denton said Tuesday in New York. Also, Pfizer is facing some headwinds from the strong dollar. Overall, the group performed better than expected by analysts.
In terms of sales, Pfizer now expects at least $99.5 billion in 2022 instead of $98 billion previously. The maximum range is unchanged at $102 billion. One of the drivers of growth is again Comirnaty, a vaccine against Covid-19 developed in collaboration with Biontech. Sales forecasts were increased by $2 billion to approximately $34 billion. Adjusted earnings per share should be between $6.4 and $6.5 for the full year, up from $6.3 to $6.45 previously.
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