Pfizer Stock Price, News & Analysis

Pfizer reported strong Q3 2024 results with revenues of $17.7 billion, representing 32% year-over-year operational growth. Excluding Paxlovid and Comirnaty, revenues grew 14% operationally. The company raised its full-year 2024 guidance, with revenue now expected between $61.0-$64.0 billion and adjusted EPS of $2.75-$2.95. Q3 reported diluted EPS was $0.78, while adjusted diluted EPS reached $1.06. Strong performance was driven by exceptional growth in Oncology products and heightened Paxlovid demand. The company is on track to deliver net cost savings of at least $5.5 billion from cost reduction initiatives.

Pfizer announced that the CDC's Advisory Committee on Immunization Practice (ACIP) voted to expand pneumococcal vaccine recommendations, including PREVNAR 20®, to all adults aged 50 and older. The vaccine protects against 20 serotypes responsible for the majority of invasive pneumococcal disease cases. In the U.S., these serotypes cause over 2,000 deaths and more than 65,000 cases of invasive pneumococcal disease annually in adults aged 50-64. The recommendation includes adults aged 19-49 with certain underlying conditions who haven't received a PCV or have unknown vaccination history.

The U.S. FDA has approved Pfizer's ABRYSVO®, a bivalent RSV prefusion F vaccine, for preventing lower respiratory tract disease (LRTD) caused by RSV in adults aged 18-59 at increased risk. This marks the first and only RSV vaccine indicated for adults under 50. The approval is based on data from the pivotal Phase 3 MONeT trial, which evaluated the vaccine's safety, tolerability, and immunogenicity. ABRYSVO also remains the sole RSV immunization approved for pregnant individuals at 32-36 weeks gestation, protecting infants up to 6 months. Pfizer aims to publish the MONeT trial results in a peer-reviewed journal and present them at an upcoming scientific conference.

Starboard Value LP, an investment adviser, announced that its CEO Jeffrey Smith presented at the 2024 Active-Passive Investor Summit. The presentation highlighted value creation opportunities at three companies: Kenvue Inc. (NYSE: KVUE), Pfizer Inc. (NYSE: PFE), and Salesforce Inc. (NYSE: CRM).

The full presentation and individual company presentations are available on Starboard's website. Starboard Value LP focuses on investing in deeply undervalued companies and actively engages with management teams and boards to unlock shareholder value.

ViiV Healthcare presented new real-world evidence and implementation data for Apretude (cabotegravir long-acting), the only approved long-acting HIV PrEP, at IDWeek 2024. Key findings include:

1. OPERA and Trio Health cohort studies showed >99% effectiveness in preventing HIV acquisition among nearly 1,300 individuals.

2. The PILLAR implementation study demonstrated reduced stigma and anxiety among 200 users compared to daily oral PrEP.

3. Trio Health cohort: Zero HIV diagnoses during follow-up, 83% persistence on CAB LA for PrEP injections.

4. OPERA study: 99.7% effectiveness, high adherence, and timely injections in a diverse U.S. cohort.

5. PILLAR study: Lower rates of PrEP stigma and anxiety, high acceptability, and convenience reported by users.

Pfizer (NYSE: PFE) announced FDA approval of HYMPAVZI™ (marstacimab-hncq) for routine prophylaxis to prevent or reduce bleeding episodes in adults and adolescents 12+ with hemophilia A or B without inhibitors. HYMPAVZI is the first anti-TFPI approved in the U.S. for hemophilia A or B treatment and the first to be administered via a pre-filled, auto-injector pen.

Key points:

• Once-weekly subcutaneous dosing
• 35% and 92% reduction in annualized bleeding rate compared to routine prophylaxis and on-demand treatment, respectively
• Common adverse reactions: injection site reactions, headache, and pruritus
• Approval based on Phase 3 BASIS trial results

This approval marks Pfizer's second hemophilia treatment approved by the FDA this year, following BEQVEZ™ for hemophilia B gene therapy.

Starboard Value LP, a significant shareholder of Pfizer Inc. (NYSE: PFE), has issued a letter to the company's Board of Directors expressing deep concern over recent events. The letter alleges that Pfizer representatives have threatened former executives Ian Read and Frank D'Amelio with litigation, compensation clawbacks, and cancellation of unvested stock units unless they publicly support current CEO Dr. Albert Bourla.

Starboard views this as coercive conduct and a breach of fiduciary duty. They are calling for the Board to establish a special committee to investigate and hold responsible parties accountable. Despite these concerns, Starboard remains committed to constructive engagement with Pfizer and looks forward to an upcoming meeting to discuss the company's path forward.

Pfizer Inc. (NYSE: PFE) announced positive topline results from the final overall survival (OS) analysis of the TALAPRO-2 study. The study evaluated TALZENNA® (talazoparib), an oral PARP inhibitor, in combination with XTANDI® (enzalutamide), an androgen receptor pathway inhibitor, in patients with metastatic castration-resistant prostate cancer (mCRPC).

Results showed a statistically significant and clinically meaningful improvement in OS for all patients and those with homologous recombination repair (HRR) gene-mutated mCRPC, compared to XTANDI alone. This makes TALZENNA plus XTANDI the first and only PARP inhibitor-ARPI combination to significantly improve survival in mCRPC patients, regardless of mutation status.

The safety profile was consistent with known profiles of each medicine. Detailed results will be presented at an upcoming medical congress and shared with global health authorities for potential label updates.

Pfizer Inc. (NYSE: PFE) has announced that its board of directors has declared a $0.42 fourth-quarter 2024 dividend on the company's common stock. The dividend will be payable on December 2, 2024, to shareholders of record at the close of business on November 8, 2024. This marks Pfizer's 344th consecutive quarterly dividend, highlighting the company's commitment to returning value to shareholders.

Pfizer, a global biopharmaceutical company, focuses on developing innovative medicines and vaccines to improve people's lives. With a 175-year history, Pfizer strives to set industry standards in quality, safety, and value in healthcare product development. The company collaborates with various stakeholders to expand access to affordable healthcare worldwide.