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Pfizer raises 2026 forecasts on strong demand for Eliquis, cancer drugs

By Reuters News

Nov 2 (Reuters) - Pfizer PFE.N raised its annual profit and revenue forecasts on Tuesday, banking on strong demand for its cancer drugs and blockbuster blood thinner Eliquis.

The U.S. drugmaker expects annual sales of $62 billion to $64.0 billion, up from the prior forecast of $60.5 billion to $62.5 billion.

On an adjusted basis, the company expects an earnings per share of $2.95 to $3.05 this year, compared with previous forecast of $2.80 to $3.00 per share.

Analysts on average were expecting annual per-share profit of $2.96 and 2026 revenue of $62.17 billion.

Pfizer has turned to licensing deals and acquisitions to replenish its pipeline and drive growth beyond 2028, as patent expirations threaten revenue from some of its biggest-selling drugs.

Separately, the drugmaker named Cecile Guegan as its chief financial officer, succeeding Dave Denton who left the company in August to take on a similar role with Nike. Her appointment is effective November 1, the company said.

Total revenue came in at $16.58 billion, topping estimates of $15.87 billion.

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