Pfizer’s Strong Quarter Bolsters CEO’s Comeback Efforts

Pfizer’s Strong Quarter Bolsters CEO’s Comeback Efforts · The Wall Street Journal

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The pharmaceutical company raised its revenue outlook for the year to between $61 billion to $64 billion, up from $59.5 billion to $62.5 billion previously. It also raised its guidance on adjusted annual earnings per share to a range of $2.75 to $2.95 per share, up from between $2.45 to $2.65 per share. The encouraging third quarter comes as Pfizer faces pressure from activist investor Starboard, which says poor investments in research and dealmaking have helped destroy billions of dollars in market capitalization.