Home / Business / Pfizer forecasts 2016 revenue, gain next estimates

Pfizer forecasts 2016 revenue, gain next estimates

U.S. drugmaker Pfizer Inc (PFE.N), that is in a routine of shopping Botox-maker Allergan Plc (AGN.N) for $160 billion, foresee 2016 income and gain next analysts’ estimates, citing general foe and a clever dollar.

The association pronounced it expects reported income of $49 billion-$51 billion for a full year and practiced gain of $2.20-$2.30 per share.

Analysts on normal were awaiting income of $52.49 billion and gain of $2.36 per share.

The company’s shares were down 1.6 percent during $29.70 in premarket trade on Tuesday. They had depressed 7 percent this year until Monday.

However, Pfizer reported better-than-expected income in a fourth quarter, helped by direct for a pneumonia vaccine and a Hospira acquisition.

Revenue rose 7 percent to $14.05 billion in a fourth quarter, forward of a normal researcher guess of $13.56 billion, according to Thomson Reuters I/B/E/S.

Global Vaccines income rose 45 percent to $1.92 billion, driven by a 102 percent expansion in a pneumonia vaccine, Prevnar 13, in a United States.

Pfizer bought Hospira Inc for about $15 billion final year to boost a portfolio of general injectable drugs and copies of biotech medicines. The understanding sealed on Sept. 3.

Net income fell to $613 million, or 10 cents per share in a quarter, from $1.23 billion, or 19 cents per share, a year earlier.

On an practiced basis, a association warranted 53 cents per share, above analysts’ normal guess of 52 cents.

The association concluded to buy Allergan final year in a understanding that will condense a taxation rate. The deal, that will change Pfizer’s domicile to Dublin, is slated to tighten in a second half of 2016.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Anil D’Silva and Sriraj Kalluvila)

Article source: http://www.reuters.com/article/us-pfizer-results-idUSKCN0VB18C