Pfizer Sees FY24 Revenues Of $58.5B-$61.5B Including Expected Contribution From Seagen Acquisition Compared To Consensus of $63.17B
Portfolio Pulse from Benzinga Newsdesk
Pfizer projects FY24 revenues of $58.5B-$61.5B, factoring in contributions from its Seagen acquisition and reclassification of royalty income. This forecast falls short of the consensus estimate of $63.17B. Expected revenues include $8B from Comirnaty and Paxlovid, and $3.1B from Seagen.
December 13, 2023 | 11:49 am
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NEGATIVE IMPACT
Pfizer's FY24 revenue forecast is below market expectations, potentially due to lower projected sales from key products and the Seagen acquisition.
Pfizer's revenue guidance for FY24 is below the consensus estimate, which could lead to negative investor sentiment in the short term. The inclusion of Seagen's revenue and the reclassification of royalty income are significant, but the overall lower guidance may weigh on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100