Ibrance Hits A Pricing Snag In Europe, But Pfizer Says Growth Is On Track
The CDK4/6 inhibitor is Pfizer's key growth driver, generating sales of $3.1bn in 2017, but international sales declined in Q4 due to a pricing adjustment. Pfizer sought to assure investors the franchise remains on track.
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Pfizer execs say they are focused on commercial execution and pipeline development to drive growth. No viable buyer has emerged for the consumer business, CEO Read said.
Merger appetites and competitive dynamics will continue to be assessed as investors grill the next round of biopharma companies presenting first quarter sales and earnings. Gilead and Pfizer will be particularly pressed on deals.
Pfizer expects its 2018 tax rate will fall to 17% from 23% in 2017 and the firm could repatriate up to $24bn in cash. The big pharma talked about reinvesting in US manufacturing, employee compensation and returns for shareholders, but investors also want to know how it might impact M&A.