Pfizer’s revenue forecast for 2017 will be $52 billion to $54 billion compared with the $54.3 billion average of analysts’ estimates. The pharmaceutical company confirmed they would lose billions of dollars ($2.4 billion) in revenue as products lose exclusive sales rights. The 2017 forecast included an expected hit due to recent and expected competition from generic drugs and cheaper biosimilars as patents on its medicines expire. Analysts expect Pfizer to remain active doing deals in its search for new products.
Image credit: Manuel Esteban