Nov 2 (Reuters) – Pfizer raised its annual profit and revenue forecasts on Tuesday, banking on strong demand for its cancer drugs and blockbuster blood thinner Eliquis.
The U.S. drugmaker expects annual sales of $62 billion to $64.0 billion, up from the prior forecast of $60.5 billion to $62.5 billion. On an adjusted basis, the company expects an earnings per share of $2.95 to $3.05 this year, compared with previous forecast of $2.80 to $3.00 per share.
Analysts on average were expecting annual per-share profit of $2.96 and 2026 revenue of $62.17 billion.
Pfizer has turned to licensing deals and acquisitions to replenish its pipeline and drive growth beyond 2028, as patent expirations threaten revenue from some of its biggest-selling drugs.
Separately, the drugmaker named Cecile Guegan as its chief financial officer, succeeding Dave Denton who left the company in August to take on a similar role with Nike. Her appointment is effective November 1, the company said.
Total revenue came in at $16.58 billion, topping estimates of $15.87 billion.
(Reporting by Christy Santhosh and Mariam Sunny in Bengaluru; Editing by Arun Koyyur)
