(Reuters) -Pfizer lifted its annual profit forecast on Wednesday, and reported first-quarter results that topped Wall Street estimates on cost cuts, a smaller-than-feared drop in sales of its COVID antiviral treatment and strong sales of its pneumonia vaccine. Sales of cancer treatment Padcev, which Pfizer gained through its $43 billion deal for Seagen, also came in ahead of analysts' expectations. The Seagen deal, as well as its $4 billion cost-cutting plan, are a key part of Pfizer's post-COVID growth strategy.
Written by Bhanvi Satya and Sriparna Roy(Reuters) - Pfizer raised its annual profit forecast on Wednesday, reporting first-quarter results that beat Wall
Sky-rocketing demand for Mounjaro and Zepbound, both chemically known as tirzepatide, has propelled the drugmaker's market value above $700 billion - surpassing both Tesla and Walmart. Lilly said its raised forecast reflects "greater clarity about the company's production expansion for the remainder of the year". In the short- to mid-term, the U.S. drugmaker expects sales growth for its weight-loss and diabetes treatments to primarily depend on how much it can produce and ship.
Eli Lilly Lifts Profit View on Diabetes, Weight-Loss Drugs Strength usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Eli Lilly beat Wall Street
estimates for first-quarter profit on Tuesday, helped by rising
demand for its weight-loss treatment Zepbound and type 2
diabetes drug Mounjaro. The.