Tag: $Pfizer

Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter.

Pfizer on Thursday said it will move forward with a once-daily version of its weight loss pill, danuglipron, after it saw “encouraging” data in an ongoing early-stage study.

Pfizer posted a surprise adjusted fourth-quarter profit, as the company’s declining Covid business performed better than expected.

Dec 13 (Reuters) – Pfizer on Wednesday forecast 2024 revenue and profit below Wall Street expectations, sending its shares down 7% in premarket trading even as it raised cost-cut target by $500 million.

BioNTech U.S.-listed shares jumped more than 3% in premarket trading. BioNTech stock has declined 36% this year. Pfizer (PFE), which reported disappointing earnings last week, was up 0.2% in early trading Monday.

Pfizer missed third-quarter estimates as the drugmaker saw more declines for its Covid-19 products.

Pfizer slashed its full-year earnings and revenue guidance Friday as it sees demand for its Covid treatment and vaccine wane.

The latest version, which some are calling Eris, is now a “variant of interest” at the World Health Organization, having been reported in at least 51 countries since early August, including China, the U.S., Korea, Japan, and Canada.

Pfizer on Tuesday reported second-quarter adjusted earnings that topped Wall Street’s expectations, but posted revenue that came under estimates due to a steep drop in Covid product sales.