April 28, 2020 / 11:53 AM / a month ago

BRIEF-Pfizer Reports Q1 Adjusted Earnings Per Share $0.80

April 28 (Reuters) - Pfizer Inc:

* PFIZER REPORTS FIRST-QUARTER 2020 RESULTS

* Q1 EARNINGS PER SHARE $0.61

* Q1 EARNINGS PER SHARE ESTIMATE $0.73 — REFINITIV IBES DATA

* REAFFIRMED 2020 FINANCIAL GUIDANCE FOR REVENUES AND ADJUSTED DILUTED EPS

* QTRLY REVENUE $12.03 BILLION VERSUS $13.12 BILLION REPORTED LAST YEAR

* Q1 REVENUE VIEW $11.87 BILLION — REFINITIV IBES DATA

* FY2020 EARNINGS PER SHARE VIEW $2.86, REVENUE VIEW $49.33 BILLION — REFINITIV IBES DATA

* TO DATE, HAS NOT SEEN A SIGNIFICANT DISRUPTION IN ITS SUPPLY CHAIN

* ALL OF CO’S MANUFACTURING SITES AROUND WORLD HAVE CONTINUED TO OPERATE AT OR NEAR NORMAL LEVELS

* QTRLY VYNDAQEL/VYNDAMAX GLOBAL REVENUES WERE $231 MILLION

* PFIZER - TAKEN STEPS TO CONTINUE TO ADVANCE PFIZER’S PIPELINE AND TO HELP DEVELOP POTENTIAL TREATMENTS FOR COVID-19, POTENTIAL VACCINE FOR NOVEL CORONAVIRUS

* SO FAR, BEEN ABLE TO MITIGATE DISTRIBUTION ISSUES THAT HAVE ARISEN, INCL. BY USING COMMERCIAL AIR CAPACITY TO TRANSPORT INVENTORY

* QTRLY WORLDWIDE PREVNAR 13/PREVENAR 13 REVENUE $1,450 MILLION VERSUS $1,486 MILLION REPORTED LAST YEAR

* PFIZER - IN LATE MARCH 2020, PAUSED RECRUITMENT PORTION OF CERTAIN ONGOING GLOBAL INTERVENTIONAL CLINICAL STUDIES, DELAYED MOST NEW STUDY STARTS

* IN LATE APRIL 2020, PFIZER BEGAN TO RESTART RECRUITMENT ACROSS DEVELOPMENT PORTFOLIO

* QTRLY WORLDWIDE LYRICA REVENUE $357 MILLION VERSUS $1,186 MILLION REPORTED LAST YEAR

* EXPERIENCED IMPACT ON SALES AND MARKETING ACTIVITIES DUE TO WIDESPREAD RESTRICTIONS ON IN-PERSON MEETINGS WITH HEALTHCARE PROFESSIONALS

* ACCESS TO PRESCRIBERS FOR SALES FORCE COLLEAGUES DURING FIRST-QUARTER 2020 WAS MIXED

* PFIZER - RATE OF NEW PRESCRIPTIONS FOR CERTAIN PRODUCTS AND OF VACCINATION RATES FOR MOST VACCINES HAS SLOWED, WHICH IS EXPECTED TO PRIMARILY IMPACT Q2

* PFIZER -SOME PFIZER MEDS SAW INCREASED DEMAND, WHICH MAY BE DUE TO PHYSICIANS APPARENTLY PRESCRIBING THEM TO TREAT/PREVENT COVID-19 INFECTIONS/RELATED CONDITIONS

* SEES NEW PFIZER 2020 ADJUSTED DILUTED EPS $2.25 TO $2.35

* UPJOHN FACED 2 EXPECTED HEADWINDS THIS QUARTER — GENERIC COMPETITION FOR LYRICA IN U.S. AND NATIONWIDE EXPANSION OF VBP PROGRAM IN CHINA

* NEW PFIZER 2020 REVENUE GUIDANCE ABSORBS $500 MILLION UNFAVORABLE IMPACT FROM CHANGES IN FOREIGN EXCHANGE RATES SINCE MID-JANUARY 2020

* Q1 REVENUE INCLUDED ESTIMATED NET FAVORABLE IMPACT OF ABOUT $150 MILLION, OR 1%, DUE TO COVID-19

* QTRLY UPJOHN REVENUE IN CHINA DECLINED 41% OPERATIONALLY, DRIVEN BY EXPECTED DECLINES FROM LIPITOR AND NORVASC

* QTRLY WORLDWIDE IBRANCE REVENUES $1,248 MILLION VERSUS $1,133 MILLION Source text for Eikon: Further company coverage:

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