NEW YORK, Feb 4 – Pfizer has reported strong quarterly profits, driven by cost-cutting measures and non-Covid drug sales.
The pharmaceutical giant posted US$410 million in profits, reversing a US$3.4 billion loss from the previous year. Revenue rose 22% to US$17.8 billion.
Key growth drivers include Eliquis (blood clot treatment), Vyndaqel (nerve damage therapy), and Seagen (cancer drugs).
Pfizer executed US$4 billion in cost savings in 2024 and expects US$61-64 billion in revenue for 2025. While it paused share buybacks, it hinted at resuming them in the future.
