NEW Pfizer Financial Results Shock Investors in 2025: All You Need to Know!

New York, February 04, 2025 (AP) – Pharmaceutical giant Pfizer Inc. (NYSE: PFE) announced its financial results for the fourth quarter and full year of 2024, reaffirming its 2025 financial guidance provided in December 2024. The company’s Chairman and Chief Executive Officer, Dr. Albert Bourla, highlighted the strong performance in 2024, stating that Pfizer met or exceeded its strategic and financial commitments. The company reported growth across its product portfolio, including revenue from legacy Seagen products, Vyndaqel family, Eliquis, Xtandi, and Nurtec.

Chief Financial Officer and Executive Vice President, David Denton, expressed pleasure in the 12% operational revenue growth of Pfizer’s non-COVID products in 2024. The company successfully achieved a $4 billion net cost savings target from its ongoing cost realignment program and increased its overall savings target to approximately $4.5 billion by the end of 2025. Denton also mentioned the company’s plan to deliver $1.5 billion of net cost savings from the first phase of the Manufacturing Optimization Program by the end of 2027.

In the fourth quarter of 2024, Pfizer reclassified royalty income, leading to changes in its financial presentation. The company saw significant revenue growth, with fourth-quarter 2024 revenues totaling $17.8 billion, driven by various factors such as the performance of legacy Seagen portfolio, Vyndaqel family, and higher sales in several products across all categories. However, Comirnaty revenues declined by $2.0 billion in the same period.

Looking ahead, Pfizer provided its 2025 financial guidance, forecasting revenues between $61.0 to $64.0 billion and an adjusted diluted EPS between $2.80 to $3.00. The company aims to enhance shareholder value by improving the productivity of its R&D pipeline and focusing on strategic priorities for 2025.

Overall, Pfizer’s financial results for 2024 showcased growth and achievements. The company’s success in meeting its financial targets and delivering strong operational performance demonstrates its commitment to innovation and excellence in the pharmaceutical industry. With a focus on optimizing operations and advancing its pipeline, Pfizer looks poised to continue its growth trajectory in the coming years.