{"text":[[{"start":8.735,"text":"Pfizer has raised its profit and revenue outlook on the back of strong demand for medicines including cancer treatments and a blockbuster blood thinner, helping to offset sinking sales of the US drugmaker’s Covid-19 products."}],[{"start":21.52,"text":"In third-quarter earnings on Tuesday, New York-based Pfizer said it was now expecting annual sales of between $62bn and $64bn, up from previous guidance of $60.5bn to $62.5bn, following rising revenue from non-Covid medicines."}],[{"start":40.797,"text":"The group also upgraded its forecast for adjusted earnings per share to between $2.95 and $3.05, up from previous guidance in August of between $2.80 and $3. Shares were broadly flat in morning trading."}],[{"start":56.93,"text":"The upgrade makes Pfizer the latest pharma group to have lifted its outlook in recent days. On Tuesday BioNTech — Pfizer’s partner on its main Covid vaccine — raised the lower end of its revenue guidance despite falling vaccine sales. Obesity drugmaker Eli Lilly, Merck and Bristol Myers Squibb all lifted their own revenue forecasts in earnings last week."}],[{"start":77.441,"text":"Pfizer is under pressure to find new sources of growth to offset slumping sales of the Covid jab that powered its earnings during the pandemic, and has turned to acquisitions including in oncology and obesity."}],[{"start":89.28,"text":"The company posted flat year-on-year revenue in the three months to the end of September, as a 7 per cent rise in sales of non-Covid medicines offset a 29 per cent drop in revenue from its Comirnaty Covid shot and a 63 per cent fall in sales of antiviral pill Paxlovid, at constant exchange rates."}],[{"start":107.92,"text":"Pfizer’s non-Covid medicines include blood thinner Eliquis, which brought in $2.5bn in the quarter, boosted by higher net prices for the drug in the US. Revenue from its oncology drugs, including bladder cancer treatment Padcev, brought in $4.3bn."}],[{"start":125.44,"text":"The company acquired Padcev as part of its $43bn acquisition of Seagen in 2023, giving it a portfolio of oncology medicines. The group also triumphed over Novo Nordisk to acquire weight-loss biotech start-up Metsera last year, in one of the most dramatic boardroom battles of 2025."}],[{"start":143.6,"text":"Pfizer is building its pipeline as it faces looming patent expiries between 2026 and 2030, including for Eliquis and breast cancer treatment Ibrance. Spending on research and development rose 18 per cent year on year, due in part to investments in oncology drug candidates. That contributed to an 8 per cent fall in net income to $3.2bn."}],[{"start":172.54,"text":"Chief executive Albert Bourla said the company’s obesity programme “continued to advance” and cited “recent milestones in oncology, immunology and vaccines” as drivers of growth."}],[{"start":177.311,"text":"Evan Seigerman, an analyst at BMO Capital Markets, said Pfizer’s better than expected results were supported by “commercial execution beyond Covid”, adding: “Investors will be looking for evidence that the pipeline can help offset upcoming patent losses following recent mixed [trial results].”"}],[{"start":195.74,"text":"Pfizer’s shares have rallied in the second half of 2026 and are up 23 per cent so far this year."}],[{"start":200.081,"text":"On Tuesday, the company also announced that interim finance chief Cecile Guegan would continue in the role permanently, replacing Dave Denton who left the company in August to go to Nike."}],[{"start":214,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793782626_7475.mp3"}