Pfizer reports strong Q4 profits amid cost cuts, COVID-19 vaccine sales

Pfizer reported stronger than expected fourth-quarter profits, driven by significant cost-cutting measures and solid sales from its COVID-19 vaccine, Comirnaty, which generated $3.38 billion. The company's total revenue for the quarter reached $17.8 billion, surpassing analysts' expectations, and marked a notable increase from $14.6 billion a year ago. Pfizer's net income returned to profit at $410 million, compared to a loss of $3.4 billion in the previous year, as the company expects to achieve $4.5 billion in cost savings by the end of 2025. Additionally, Pfizer's recent acquisition of cancer drugmaker Seagen is anticipated to contribute positively to future earnings, with sales of its cancer therapy Padcev meeting estimates. Looking ahead, Pfizer reaffirmed its 2025 revenue guidance of $61 to $64 billion. Analysts are cautiously optimistic about Pfizer's ongoing recovery and strategic focus on enhancing its product pipeline and operational efficiency.