Pfizer Inc. (NYSE:PFE ) Goldman Sachs 45th Annual Global Healthcare Conference June 10, 2024 11:20 AM ET Company Participants Albert Bourla - Chairman and CEO Conference Call Participants Chris Shibutani - Goldman Sachs Chris Shibutani Okay, let's kick off our discussion with Pfizer here. My name is Chris Shibutani.
Zacks.com users have recently been watching Pfizer (PFE) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
A 15-day course of Pfizer's COVID-19 antiviral treatment Paxlovid did not relieve symptoms of long COVID, according a study by Stanford University researchers.
Pfizer's stock is currently trading below pre-pandemic levels, despite the record-breaking year it had in 2023 for FDA approvals and the significant acquisition of Seagen. Weak sentiment is likely explained by the significant risk of two best-selling products losing their exclusivity in 2026. Intrinsic value calculations suggest that the stock is 75% undervalued, meaning that the biggest risk is likely factored in.
Pfizer has been trimming expenses as it adjusts to a decline in demand related to COVID-19. It recently announced a new cost-cutting plan that will save $1.5 billion in expenses.
Sales of Pfizer's COVID-19-related products are down sharply, and so is the stock price. Pfizer stock has fallen about 24% over the past year.
Due to their robust financial and strategic approaches, these three equities are all seeing notable progress in their respective industries. Recent financial results for the first one show robust revenue growth and enhanced gross margins, underpinned by efficient cost control.
Pfizer's COVID-19 vaccine revenue is drying up. But the company's push into oncology should reignite growth.
Pfizer expects its cancer drug Lorbrena to top $1 billion in annual sales by 2030 after most patients treated for a form of lung cancer had no disease progression after five years.
Pfizer (PFE) reported earnings 30 days ago. What's next for the stock?
Pfizer on Friday said its drug for an advanced form of lung cancer showed promising long-term results in a late-stage trial, which could help establish it as the new standard treatment for the condition. Lorbrena is already approved in the U.S. for treating adults with advanced non-small cell lung cancer who have a mutation in a gene called ALK.
Pfizer said it expects its cancer drug Lorbrena to top $1 billion in annual sales by 2030 on the strength of data presented on Friday showing most patients treated for a rare form of advanced lung cancer in a clinical trial were alive without the disease worsening after five years.