Pfizer beats first-quarter earnings estimates in race to develop coronavirus vaccine

Pfizer beats first-quarter earnings estimates in race to develop coronavirus vaccine

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A symbol for Pfizer is shown on a keep an eye on on the ground at the New York Inventory Trade, July 29, 2019.

Brendan McDermid | Reuters

Pfizer reported Tuesday 1st-quarter earnings that conquer Wall Street estimates and reaffirmed its total-year revenue steerage as the drugmaker is effective to create a vaccine to prevent the coronavirus.

The drugmaker documented adjusted earnings of 80 cents for each share, 7 cents larger than Wall Street analysts polled by Refinitiv anticipated. The enterprise documented earnings of $12 billion, increased than the $11.8 billion envisioned.

Shares of the firm ended up up practically 2% in premarketing trading.

Pfizer estimates it can probably deliver millions of coronavirus vaccine doses by the conclude of this 12 months.

This is a acquiring story. Please test back for updates.

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