October 29, 2019 / 10:55 AM / 14 days ago

Pfizer raises 2019 profit forecast, shares rise

Oct 29 (Reuters) - U.S. drugmaker Pfizer Inc raised its 2019 full-year earnings forecast on Tuesday, sending its shares up 3%.

The company said it expects to earn between $2.94 per share and $3 per share, up from a prior estimate of $2.76 to $2.86.

Total revenue fell 5% to $12.68 billion, but sales from its biopharma unit rose 7% to $10.12 billion in the third quarter. (Reporting by Tamara Mathias and Aakash Jagadeesh Babu in Bengaluru Editing by Saumyadeb Chakrabarty)

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