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Coronavirus Vaccine Maker Pfizer Posts a Mixed Q4

By Eric Volkman - Feb 2, 2021 at 4:51PM

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Investors weren't impressed with the results, despite double-digit percentage increases on both the top and bottom lines.

Pfizer (PFE 1.32%), now famous as the co-developer of the coronavirus vaccine BNT162b2, released its final quarterly results for fiscal 2020 on Tuesday.

These show that the company earned $11.68 billion in revenue, which was 12% higher than the same quarter of 2019. Of that, BNT162b2 -- which received emergency use authorization from the FDA in December -- was responsible for $154 million.

On the bottom line, Pfizer grew its non-GAAP (adjusted) net profit by 15% to nearly $2.37 billion, or $0.42 per share.

Gloved hands holding a vial of medicine.

Image source: Getty Images.

Prognosticators tracking the stock had collectively estimated that the company would book $11.43 billion in revenue, and an adjusted net profit of $0.48 per share.

Pfizer said that Vyndaqel and Vyndamax, treatments for transthyretin amyloidosis that received approval in the European Union (EU) nearly one year ago, were particularly strong sellers. Sales of the related drugs nearly doubled on a year-over-year basis in Q4. As for popular vaccines that aren't BNT162b2, its Prevnar and Prevenar 13 products enjoyed a 10% rise in sales.

In the company's guidance for 2021, it said it anticipates revenue of $59.4 billion to $61.4 billion, compared to a 2020 tally of $41.9 billion. Not surprisingly, BNT162b2 is expected to be a major contributor to this; Pfizer believes the coronavirus vaccine will produce $15 billion in revenue for it.

For 2021, the company upped its adjusted per-share net profit forecast slightly to $3.10 to $3.20. Previously, it was modeling for $3.00 to $3.10. Its 2020 result was $2.22.

On Tuesday, Pfizer stock closed 1.9% lower, in contrast to the 1.5% gain of the S&P 500 index.

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