https://www.nasdaq.com/articles/pfizer-pfe-q2-earnings-beat-view-up-on-covid-19-vaccine-2021-07-28
Pfizer, Inc. PFE reported second-quarter 2021 adjusted earnings per share of $1.07, which comprehensively beat the Zacks Consensus Estimate of 97 cents. Earnings rose 73% year over year.
Revenues came in at $18.98 billion, which beat the Zacks Consensus Estimate of $17.54 billion. Sales rose 92% from the year-ago quarter on a reported basis and 86% on an operational basis, mainly driven by sales of Pfizer and partner BioNTech’s BNTX COVID-19 vaccine, BNT162b2. The vaccine contributed $7.8 billion in global sales in the quarter. Excluding revenues from BNT162b2, sales grew 10% operationally.
Higher sales of brands like Eliquis, Vyndaqel/Vyndamax, Inlyta, Xtandi, recovery in sales of Prevnar 13 in the United States and Ibrance outside the United States, and higher biosimilars revenues drove sales growth. Weaker sales of Xeljanz, Ibrance and Chantix in the United States and Enbrel internationally partially offset the increase.
International revenues rose significantly to $11.4 billion. U.S. revenues rose 48% to $7.6 billion.
Adjusted selling, informational and administrative (SI&A) expenses rose 8% (operationally) in the quarter to $2.79 billion. Adjusted R&D expenses rose 22% to $2.27 billion due to costs related to development of COVID-19 vaccines and other medicines. ..