How Did Pfizer Grow With Weak Dollar?
How was Pfizer helped by the weakening of dollar?
Pfizer topped the expectations when the pharmaceuticals giant on the first-quarter revenue went up to $13 billion with adjusted earnings per share of 67 cents. Not only this, Pfizer also shoots with a full-year guidance not only the top but both the top and bottom lines. Today, it is not expected on 2016 revenue to have $52 billion at the midpoint of guidance, up from $50 billion.
What helped this to happen? – The new products such as breast-cancer drug called Ibrance and the vaccine for pneumonia called Prevnar 13 is selling exceeding the anticipation of analysts. On the other hand, greenback’s recent travails also contributed to this help.
According to the Wall Street Journal Dollar Index, the measure of currency’s strength is up more than 25% over the last five years but also 6% down so far this year. The dollar is accounted for the half of Pfizer’s growth in the mid of its guidance.