Boston, MA 02/04/2014 (wallstreetpr) – Pfizer Inc. (NYSE:PFE) has announced the successive trial for its recent drug that is thought to be efficient for the treatment of breast cancer. The announcement was received well in the market seeing the company stock in the market increasing by a high of 3% in early trading of Monday February 2, 2014. The trials showed substantial and clinically meaningful improvement essential for improving survival rates for women grappling with advanced levels of breast cancer or those who have been diagnosed. This is positive news that looks set to impact Pfizer positively in the market considering there are up to 60% of women who have a chance of benefiting from the drug.
Pfizer continues to beat estimates
The drug making company has been performing fair enough in the market having managed to record fourth quarter estimates that beat consensus estimates despite a drop in revenues attributed to the loss of patents of some of its drug. The successful testing of the drug could not have come at a better time with the company having lost exclusive rights on various regions around the globe for some of its popular drugs. Reduced revenue started due to the spinoff of its animal health division.
Pfizer profit being hurt by Generics
The drop in profits to a low of $2.57 billion in F2013 from a high of $6.32 billion in F2012 is mainly due increased challenges for its major drugs that have lost market exclusivity. The company has provided earnings per share guidance of $2.20-$2.30 in F2014 with revenue in the range of $49.2-$51.2 billion. The major setback the company is grappling with at the current moment is the loss of market exclusivity for its one time major drug for cholesterol lowering Lupitor. The company is also grappling with generic competition for its erectile dysfunction pill Viagra in the European markets.
Pfizer Inc. (NYSE:PFE) closed Monday trading session at a high of $30.60 an increase of 0.66%
