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What to Expect from Pfizer’s Revenue and Earnings in Q1

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Financial performance in the first quarter

Wall Street analysts expect Pfizer’s (PFE) revenues to be $12.99 billion, $13.37 billion, $13.07 billion, and $13.63 billion, respectively, in the first, second, third, and fourth quarters of 2019, implying YoY (year-over-year) changes of 0.66%, -0.72%, -1.69%, and -2.48%, respectively.

Analysts expect Pfizer’s selling, general, and administrative and research and development expenses to be $3.22 billion and $1.81 billion, respectively.

Analysts expect Pfizer’s non-generally accepted accounting principles EPS to be $0.75, $0.75, $0.71, and $0.66, respectively, in the first, second, third, and fourth quarters of 2019, implying YoY changes of -2.33%, -6.93%, -8.96%, and 3.40%, respectively.

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Oncology strategy

According to its Cowen and Company 39th Annual Health Care Conference transcript, Pfizer’s oncology business reported a 31% compound average growth rate in its revenue from 2013 to 2018, mainly driven by the robust uptake of Ibrance in the treatment of metastatic breast cancer and Xtandi in the treatment of metastatic prostate cancer. Pfizer currently has 18 approved drugs in its oncology portfolio, including four biosimilars. The company expects to receive FDA approval for more than 20 oncology drugs by 2025.

Pfizer’s primary goal with its oncology portfolio is to expand Ibrance’s and Xtandi’s labels in nonmetastatic and adjuvant settings, thereby doubling the addressable market size for both drugs. The company’s second goal is to expand in the area of precision immunotherapy, especially in the hemato-oncology area. The company’s third goal is to advance innovations in targeted medicines and immunotherapy.

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