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Pfizer: tightens up target ranges for 2020

( - Pfizer has tightened up its target adjusted EPS range for 2020, now aiming for 2.
88-2.93 dollars, instead of 2.85-2.95 dollars, with sales of 48.8-49.5 billion dollars, against 48.6-50.6 billion dollars forecast previously.

In Q3 2020, the healthcare giant saw its adjusted net profit slip 3% to 4.07 billion dollars, or 72 cents per share, representing EPS that is broadly in line with expectations, with revenues down 4% to just over 12.1 billion dollars.

In operational terms, revenues were also down 4%, albeit with 4% growth at its biopharma division, thanks to Vyndaqel and biosimilars, although this was offset by an 18% decline in the Upjohn division, which suffered from the loss of exclusivity on Lyrica in the US in 2019.

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