Pfizer Sales Disappoint as Investors Wait for Strategic M&A

Pfizer Sales Disappoint as Investors Wait for Strategic M&A

Pfizer Inc. reported one other quarter of sluggish gross sales, growing strain on the drugmaker to make a deal and replenish its pipeline.

The New York-based firm mentioned Tuesday it nonetheless expects to decide on the way forward for its consumer-health unit throughout the 12 months. Investors have been anxious about getting an replace on the enterprise, which was valued at $20 billion. Its destiny has been unclear since March when two potential patrons pulled out of the bidding course of. Pfizer started reviewing the enterprise, whose merchandise embrace Advil and heartburn reliever Nexium, in October.

Revenue total rose simply 1 % to $12.9 billion final quarter, decrease than the $13.1 billion projected by analysts. Unlike most of its large-pharmaceuticals friends, Pfizer didn’t elevate its outlook for the 12 months.

Shares fell 1.7 % at $36 in premarket buying and selling in New York.

The quarter was dragged down by a 5 % income decline from Pfizer’s division of older medicine, partly because of a 12 % drop in gross sales for sterile injectible medicine tied to its Hospira product shortages.

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