Pfizer's revenue, profit beat as vaccine sales rise

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[July 28, 2015]  (Reuters) - Pfizer Inc reported better-than-expected quarterly profit and revenue, helped by strong demand for its pneumonia vaccine Prevnar 13 and sales of its breast cancer drug, Ibrance.

The company, which also raised its full-year adjusted earnings forecast, said revenue from its global vaccines unit rose 44 percent to $1.58 billion. The unit accounted for about 13 percent of Pfizer's total revenue.

Ibrance, approved by the U.S. Food and Drug Administration in February, generated $140 million in revenue in the second quarter.

Pfizer's shares rose about 2 percent in premarket trading on Tuesday.

The drugmaker raised its adjusted profit forecast for 2015 to $2.01-$2.07 per share from $1.95-$2.05.

It increased the lower end of its revenue forecast to $45 billion from $44 billion, maintaining the upper end at $46 billion.

Pfizer, which got nearly two-thirds of its 2014 revenue from markets outside the United States, had cut its full-year revenue and profit forecast in April, citing a strong dollar.

The company's net income fell to $2.63 billion, or 42 cents per share, in the second quarter from $2.91 billion, or 45 cents per share, a year earlier.

Excluding items, Pfizer earned 56 cents per share.

Revenue fell 7 percent to $11.85 billion, hurt by a stronger dollar.

Analysts on average had expected a profit of 52 cents per share and revenue of $11.42 billion, according to the Thomson Reuters I/B/E/S.

Pfizer's shares were trading at $34.93 before the bell. The stock had risen 7 percent in the six months to June 30.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Simon Jennings and Kirti Pandey)

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