Pfizer Records First Sales Growth In Its Post-Covid Era And It Owes It To Cancer
Portfolio Pulse from Upwallstreet
Pfizer has recorded its first sales growth in the post-COVID era, driven by cancer and heart drugs. Smaller players like Mainz Biomed are also making strides in oncology. Pfizer's Q2 revenue grew 3% YoY to $13.28 billion, with significant contributions from cancer therapies and heart disease drugs. Merck also exceeded estimates, driven by its cancer drug Keytruda. Pfizer raised its full-year outlook, expecting earnings per share between $2.45 and $2.65.
July 30, 2024 | 4:09 pm
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Bristol-Myers Squibb's co-marketed blood thinner Eliquis brought in $1.88 billion in Q2, growing 7% YoY.
Bristol-Myers Squibb's strong performance with Eliquis in Q2 is likely to positively impact its stock price. The growth in sales indicates strong demand and market position.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Merck exceeded Q2 estimates, driven by its cancer drug Keytruda. The company is also developing an experimental mRNA cancer vaccine with Moderna.
Merck's strong Q2 performance and advancements in cancer treatment, including the development of an mRNA cancer vaccine, are likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Mainz Biomed announced enhancements to its colorectal cancer screening test, ColoAlert, and is pursuing FDA approval in the U.S. The company is also developing a pancreatic cancer screening test, PancAlert.
Mainz Biomed's advancements in cancer diagnostics and pursuit of FDA approval are likely to positively impact its stock price. The company's focus on early cancer detection and new product development adds to its growth potential.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Pfizer reported its first sales growth in the post-COVID era, driven by cancer and heart drugs. Q2 revenue grew 3% YoY to $13.28 billion. Pfizer raised its full-year outlook, expecting earnings per share between $2.45 and $2.65.
Pfizer's strong Q2 performance and raised full-year outlook are likely to positively impact its stock price in the short term. The focus on cancer and heart drugs, along with cost-cutting measures, adds to investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100