Pfizer outperforms profit estimates on heart disease and Covid vaccine sales

(Reuters)-PFE’s pharmaceutical makers won the Wall Street estimates for profits in the fourth quarter on Tuesday, with the help of strong sales of heart disease and a smaller decrease in vaccine sales.

On an average basis, the company received 63 cents per share for the three months ending December 31, compared to the estimate of the 47 -cents of the intermediate analyst per share, according to the data collected by LSEG.

Pfizer faces investor pressure to show that recent acquisitions and investments can bring them in returns.

After the tremendous success of the Covid-19 products during the epidemic, the drug maker struggled to persuade the shareholders that it could compensate for the loss of potential revenues from some sales treatments that are expected to start patent soon.

The shares of the company decreased by approximately 8 % in the past year, and about 2 % rose in the hours of the market. They trade less than half of their value at the height of the Covid-19s.

The total revenue amounted to $ 17.76 billion for the fourth quarter, compared to estimates of $ 17.36 billion, according to the data collected by LSEG.

(Participated in the reports of Manas Misrea and Hanafi Satja in Bangaluru and Michael Irman in New York; editing Saumid Charabarte)