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The
company said it expects reported revenue of $49 billion-$51
billion for the full year and adjusted earnings of $2.20-$2.30
per share.
Analysts on average were expecting revenue of $52.49 billion and
earnings of $2.36 per share.
The company's shares were down 1.6 percent at $29.70 in
premarket trading on Tuesday. They had fallen 7 percent this
year until Monday.
However, Pfizer reported better-than-expected revenue in the
fourth quarter, helped by demand for its pneumonia vaccine and
its Hospira acquisition.
Revenue rose 7 percent to $14.05 billion in the fourth quarter,
ahead of the average analyst estimate of $13.56 billion,
according to Thomson Reuters I/B/E/S.
Global Vaccines revenue rose 45 percent to $1.92 billion, driven
by a 102 percent growth in its pneumonia vaccine, Prevnar 13, in
the United States.
Pfizer bought Hospira Inc for about $15 billion last year to
boost its portfolio of generic injectable drugs and copies of
biotech medicines. The deal closed on Sept. 3.
Net income fell to $613 million, or 10 cents per share in the
quarter, from $1.23 billion, or 19 cents per share, a year
earlier.
On an adjusted basis, the company earned 53 cents per share,
above analysts' average estimate of 52 cents.
The company agreed to buy Allergan last year in a deal that will
slash its tax rate. The deal, which will shift Pfizer's
headquarters to Dublin, is slated to close in the second half of
2016.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Anil
D'Silva and Sriraj Kalluvila)
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