pfizer earnings call transcript

In addition to all of that, I think the trust to the Pfizer brand name, which has been very, very strong I think also play a key differentiator. Pfizer Earnings Date and Forecast 2023 (NYSE:PFE) Thank you, Mikael, and William on the oncology front. Let me start with the first one. Now as regards to the frustration, for the 2023, clearly, I believe that the stock price right now does not reflect the value that half Pfizer has. We have strong momentum with our RSV vaccine candidate, having received a positive VRBPAC Committee vote supporting potential approval to help combat RSV in older adults and PDUFA dates for our Older Adult and Maternal indications in quick succession in the coming months. PFIZER The ongoing TALAPRO-3 study, if successful, may further expand the reach of this potential blockbuster into the HRR-deficient metastatic castration sensitive population. As you know, in July of 2022, we had already begun and copromote with Biohaven to ensure that we were copromoting the product early. Additional information regarding these statements and our non-GAAP financial measures is available on earnings release and our SEC forms 10-K and 10-Q under Risk Factors and Forward-Looking Information and factors that may affect future results. My question is, this ongoing trial also has says plan eligibles, which is two thirds of the target population. PFIZER Thinking big picture, how you are differentiated? FINAL TRANSCRIPT PFE - Q3 2009 Pfizer Earnings Conference Call Event Date/Time: Oct. 20. And have you developed any new LNP technology that might reduce the biggest pushback with the vaccines as people still stick still when they got them for some of your products? Pfizer Inc. (NYSE:PFE) Q1 2023 Results Conference Call May 2, 2023 10:00 AM ET, Dr. Albert Bourla - Chairman and Chief Executive Officer, Dr. Mikael Dolsten - President, Worldwide Research, Development and Medical, Angela Hwang - Chief Commercial Officer and President, Global Biopharmaceuticals Business, Aamir Malik - Chief Business Innovation Officer, Dr. William Pao - Chief Development Officer. All right, Chelsea, please queue up the list for Q&A. So, I think we've demonstrated in the time that we've had it, that we are able to drive performance and drive excellent education and awareness of the product. Pfizer, Inc. (PFE) Q1 2021 Earnings Call Transcript - AlphaStreet So for obesity, that's a really good ambition to have up to 15%. Notably, in the same presentation, we also showed the hazard ratio in the HR deficient population of 0.48, a significant P value and then the HRR non-deficient unknown population HR of 0.7 with a P value of 0.04. Paylocity (PCTY) Earnings Date, Estimates & Call Transcripts $178.41 -0.80 (-0.45%) (As of 06/29/2023 ET) Compare Today's Range $177.54 $181.82 50-Day Range $163.30 $195.57 52-Week Range $160.00 $276.88 Volume 403,265 shs Average Volume 474,427 shs Market Capitalization $9.96 billion P/E Ratio 84.55 Dividend Yield N/A Price Target $260.87 In closing, we are very excited about the potentially transformative catalysts expressed across the pipeline as we work with continued urgency to bring breakthroughs to patients. Now the data you're talking about is from the SWOG S1826 study with Nivo AVD versus Adcetris AVD, and I believe there'll be presenting PFS data. Our next question will come from Akash Tewari with Jefferies. Forward-looking statements on the call are subject to substantial risks and uncertainties, speak only as of the call's original date, and we undertake no obligation to update or revise any of the statements. Thank you. Just last month, the New England Journal of Medicine published results from the two positive Phase 3 studies. Pfizer Yes, thank you for your question. Hopefully, we'll be late to this for to share an update. Let's say, approximately $5 billion is left. Pfizer (symbol PFE) So stay tuned. Your line is open. Given that a large number of launches are expected to occur in the third and fourth quarter of 2023, we anticipate our quarterly revenues will not be linear this year and that our non-COVID revenues will grow more quickly in the back half of the year versus the first half of 2023. Merck & Co., Inc We monitor carefully competitor activity, as you alluded to, and are planning ourselves to enter next year further expanded PCV vaccines, followed by additional expansion a few years later, including optimization of the conjugation procedures, including different carriers, and possibly for the adult also had adjuvant that we think could be useful. With 5% operational growth in our non-COVID revenues this quarter, we are on-track to achieve our non-COVID revenue guidance of 7% to 9% operational growth for the full year. It just was completed after we announced the deal shortly after, but it had started way, way before. Moving to the bottom-line, reported diluted EPS this quarter declined by 29% to $0.97, while adjusted diluted earnings per share of $1.23 declined 20% on an operational basis during the quarter. PFIZER In summary, we believe that was a solid quarter we deliver on our commitments, we exceeded actual expectations, we know from history. That's because the majority of our potential near-term product launches, as you can see mapped out on this slide, are expected to occur in the second half of the year, following regulatory approvals where not yet secured. While we will continue to invest in our business, we do expect more balance between that priority and returning value to our shareholders via increased dividends and value-enhancing share repurchases. CI Transcript : Pfizer Inc. - And if there's sort of like an aspirational target, and how meaningful have a driver that could be? And then for the RSV flu co-administration study, what flu vaccine did you test that with? I guess, first on the decision to establish a new operating segment and specifically launched this Pfizer IGNITE offering. Your line is open. So thank you, Chris, for the question. The first is, how much of your future COVID vaccine revenue forecast are tied to the ability to have a combination product, if something like mRNA flu ends up not being viable, and a knockout of flu COVID combo, would that impact your anticipated uptake in 2025 and beyond? Having said that, in the near-term, those will probably be smaller, little tuck-in type deals given our leverage ratio in the very near-term. And as you know, for Paxlovid what's unique with that drug that the many fold exposure above EC90 as these four lead to no detectable meaningful emergence or mutations, which is always what you fear in antiviral single agent therapy. Entering text into the input field will update the search result below, items. Catherine Arnold Credit Suisse - Analyst David Reisinger Morgan Stanley - Analyst Jami Rubin Goldman Sachs - Analyst Eric Lo Banc of America - Analyst Tim Anderson Sanford Bernstein - Analyst Seamus Fernandez Leerink Swann - Analyst Chris Schott JPMorgan - Analyst Marc Goodman UBS - Analyst Tony Butler Here we share data for the first time from our second generation oral COVID-19 antiviral candidate, a potent and selective SARS-CoV-2 Mpro inhibitor that is currently in Phase 1. And we think IGNITE gives us a platform to do that, to work with these companies, get closer to the science, which over time also then improves our ability to access that science and make determinations about what we would like to bring in-house. Dave, capital allocation. What is your team believe just hitting CDK4 allows you to improve on hyper-intense efficacy? Notably in TALAPRO2, we have prospective testing for HRR deficiencies including BRCA1 and 2. It gives us our license to operate, allows us to attract the best talent and enables us to deliver breakthroughs that change patients' lives. We also continue to be proud of our patient impact. So, let's start with elranatamab, which is UC. A couple of questions. And the other question I have is more about your demand chart for Paxlovid and vaccinations both, it seems like you are assuming both Paxlovid and vaccination, utilization going up into time 24 plus timeframe? But maybe you can make William, quick comment, general speaking. Good day, everyone, and welcome to Pfizer's Fourth Quarter 2021 So in closing, this is an exciting period for Pfizer as we continue to invest to drive long-term growth and importantly enhance long-term shareholder value. 2009 / 2:00PM GMT THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us 2009 Thomson Reuters. I have two here, if I may. When is Pfizer's next earnings announcement? And since you're launching new products in Europe, just want to get your thoughts on whether or not you think that legislation may hold or what kind of impact that might have? The only older adult vaccine on Slide 22, you know emerging mid second season data supporting durable vaccine efficacy. On a total company basis, we continue to expect revenues of $67 billion to $71 billion, reflecting an operational decline of 31% at the midpoint. You see our forward-looking statements disclaimer on Slide 3. [Operator Instructions] And our first question will come from Umer Raffat with Evercore ISI. Your line is open. There is uncertainty, if there COVID revenues will materialize, we don't have any precedents to show that we know how to predict it well. We have done a tremendous amount of work, as it pertains to retailers and making sure that, we have our distribution and our supply chain, well-oiled and the ability to be able to supply and to vaccinate to administer these products at both at a physical site, like a retailer or even in the case of Paxlovid getting telehealth and sort of remote health capabilities set up. So, there is a lot of reasons to believe why their fourth quarter and it'll be a really big quarter for both Prevnar Peds as well as RSV adults. Now let's move to the question about I&I and Angela, please. The fact that we are so proud because of our contribution in saving the world, I don't think, but we expect the stock price increases because of that. But as we have said, we have shared before the date of launch and exactly how that's going to happen is still very much subject to our discussions with the U.S. Government. And this is exactly the profile for the next gen, but without the DDIs that allow us to improve and also to move into other supplementary segments. Similarly, we're looking at combination with 471, as you alluded to in order to benefit from Arvinas' collaboration. Our next question will come from Mohit Bansal with Wells Fargo. So we are waiting to see the data that will speak. They fit very well in the the existing portfolio of products that we have. So first one a few days ago, you saw the FDA advisory committee vote on Lynparza's PROpel trial. Is the new ingredients and adjuvant is it more valence or is it something else? For example, in the control arm of the CARD study, rPFS for XTANDI alone was 4.8 months in XTANDI-nave patients. Dagar, who purchased $8,380 in Pfizer call options, generated a one-day Mikael, why don't you take the flu question and then the oncology question, we'll go to William. Thank you, Albert, and good morning, everyone. And I'm just trying to make sense of that in light of the fact that these are going to be launches, sort of in fall of this year, I realized that important read like RSV, route map, but is it reasonable to expect a billion dollars or so or lean to the launch from those? So our predictions are based on epidemiological science, and based on trends that we are testing with market people. I want to point out that our COVID-19 products produced $7.1 billion in revenues in the first quarter alone. And so if you look at, I guess a good analog for that would be our Prevnar 20 adult launch, which was the conversion of the Prevnar 20 adult launch, and there it went really well. Additional information regarding these statements and our non-GAAP financial measures is available on earnings release and our SEC forms 10-K and 10-Q under Risk Factors. And notably, we did get prior to review and we're currently in registration. And we have already approved for the adults and then we are expecting approval for the maternal. Pfizer last announced its earnings data on May 2nd, 2023. I have to follow-ups. And then of course, the winners, there will be also those that they will be able to build from the maze of all of that. As we said, in our slide, we expect to be approved in this year in the last quarter. And in the treatment on tala, our rPFS was not reached. Next gen Paxlovid, yes, as alluded to in my introductory remarks, we have manifold above EC90. We believe that inhibition of EZH2 may provide synergistic effects in combination with XTANDI, with the potential to address unmet needs of patients with androgen-sensitive and resistant disease. Just wondering if you can offer your high-level perspective on how you see that frontline landscape evolving? Early results from Phase 1 dose escalation are encouraging, with no dose limiting safety or tolerability findings. Merck & Co., Inc Earnings Pfizer (PFE) Q2 2020 Earnings Call Transcript | Rev Sure. Since the beginning of the year, we have received two accolades that demonstrate we are doing just that. Yes. Recently, the FDA Advisory Committee voted in support of PAXLOVIDs favorable benefit-risk profile, with a soon PDUFA date in May. With respect to Paxlovid, we continue to expect 2023 to be a transitional year as we anticipate shifting to a commercial market in the second half of this year. Transcribe Your Own Content Try Rev and save time transcribing, The DOJ said the former employee and his close friend sold their Pfizer call options at "significant profits" totaling more than $350,000. Can you say whether you were aware of the data at the time of announcing the Seagen acquisition? Pfizer (PFE) Q3 2020 Earnings Call Transcript. Is that the high dose or the low dose? And then secondly, based on my. We're planning soon to start a Phase 2. Your line is open. So -- but, as I'm explaining the dynamics, Mikael, very quickly on the competition of pneumococcal. Pfizer Earnings Let's go to the next question, please. We have had COVID. Thank you. The final OS data will be reported once the predefined number of survival events has been reached. Today's Change (-1.11%) -$0.43 Current Price $38.30 Price as of June 23, I mean, we are extremely excited about the PCV20 recent pediatric approval with a Stellar label reflecting the strengths of our data. So we feel really positive about our own DMD program and I think the entry will be competitive with the real data that patients need. And the second question is there's the big proposal at a Europe for new legislation for drugs. Pfizer Earnings Angela, on Paxlovid commercialization. Our next question comes from Trung Huynh with Credit Suisse. So all of these capabilities, many of them, in fact, have been underway throughout the entire time of the pandemic. Go ahead, Evan. So from a launch perspective, I think the two big ones to look out for this year are Prevnar 20 EPS, and RSP adults. What's your expectation there? By combining Seagen's category-leading antibody-drug conjugate technology with Pfizer's scale, expertise and capabilities, we believe we can accelerate potential breakthroughs in cancer medicines and introduce new solutions to patients around the world. AbbVie (ABBV) Earnings Date, Estimates & Call Transcripts $133.23 +0.72 (+0.54%) (As of 06/29/2023 ET) Compare Today's Range $132.13 $133.91 50-Day Range $132.51 $164.90 52-Week Range $130.96 $168.11 Volume 4.89 million shs Average Volume 6.02 million shs Market Capitalization $235.06 billion P/E Ratio 31.50 Dividend Yield 4.44% Price We know that everything we do, we do it with their money it's not our money. As flu on mRNA technology still the results, we are very optimistic with the totality of the data that we are having from our flu vaccine, and we will wait to see of course how that will continue. Now turning to the quarter, as Albert said, our results were in line with our expectations, albeit slightly better than consensus. Clearly, we are also concerned at the same time with provisions that would like to reduce the exclusivity of data and other provisions. Pfizer (symbol PFE) reported Q4 2020 earnings on February 2, 2021. Sure. We are extremely excited about the RSV vaccine and we'll provide data on co-administration of that vaccine with the advent of flu. and 17.1 months in XTANDI-nave both of which are notably longer than historical controls. This suggests the RSV vaccine candidate, if approved, could be co-administered with flu vaccinations and add an important component of seasonal protection against respiratory pathogens. Thank you. We have invested in Pfizer's own science, while acquiring the best external science to supplement our pipeline. We have at least 30 minutes for Q&A. On a full year basis, we expect that foreign exchange will have an unfavorable impact compared with full year 2022 of approximately $0.13, on adjusted diluted earnings per share. We have a second combination with CDK2 and we think this would allow us next year to pick one or two combinations to advance up the lines with more potent treatment than what's available today. As Mikael said, the study showed with enzalutamide plus TALAPRO versus Tala versus enza, we showed a 37% reduction in the radiograph of progression free survival. And pending data possibly move quickly to Phase 3. We anticipate another update from FDA in June that will provide guidance on COVID-19 vaccine strains and vaccination timing for the 2023 fall and winter seasons. Our capital allocation strategy is squarely focused on driving shareholder value while at the same time remaining committed to a high investment grade Tier 1 commercial paper rating. Today's Change (0.78%) $0.31 Current Price $40.06 Price as of June 16, All earnings call transcripts on Pfizer Inc. (PFE) stock. Regarding our COVID-19 franchises, we continue to expect 2023 to be a transition year as the virus continues to mutate and we move from advance purchases under government contracts to more traditional supply arrangements in a commercial model for both Comirnaty and Paxlovid in the U.S. As previously discussed, in 2023 and 2024 we expect vaccine utilization to decline compared with 2022. Next, we have Louise Chen with Cantor. Thank you for taking my question. When is Paylocity's next earnings announcement? Results showed significant and clinically meaningful improvement across the all-comers population in radiographic progression free survival, or rPFS, in men with metastatic castration resistant prostate cancer, with or without homologous recombination repair or HRR gene mutations. Even with Comirnaty's decline, our COVID franchises remained significant contributors to the business with a combined $7.1 billion in revenues during the quarter. Maybe just to add to your question specifically about the adult portfolio, I really do believe that, this plays into our sweet spot. I didnt hear which product you spoke about? Dosing achieved concentrations many-fold over in vitro EC90 and is therefore expected to have similar antiviral activity to PAXLOVID. Yes, sure. PFIZER But when you think about your scorecard outside the U.S. with payers, as you have transitioned to commercial, what's been the initial feedback from a sort of from a price and volume perspective, obviously, that's key to your assumptions in 2024 and beyond? Now turning to the full year financial outlook for the Company, our full year 2023 guidance remains unchanged. Maybe later this year or possibly early next year and cherry pick the winner here. Thank you. Thank you. Hi. Earnings Date So, those have begun. And maybe I can give you a very general answer. I think we will go to the next question. And secondly, for the guidance for the full year, I noticed there's perhaps $1 billion or so worth of contribution from new launches. Just for up front, where do we need to see leverage go to before we can think about that balanced allocation? And so, this means that the immune protection of the population will go down. PFIZER Finally, the FDA recently updated the EUA for our Omicron BA.4/5 bivalent COVID-19 vaccine to enable those at higher risk of severe COVID-19 illness, including the elderly and the immunocompromised, to partner with their healthcare providers to be proactive in helping protect themselves against COVID-19. Sure. So that plays also a key role in the uptake with the vaccine. Now as regards the EU legislation what we haven't just seen in recent days, we are noticing the positive things of EU trying to be more competitive in attracting reserves and creating the regulatory framework for more rapid approvals. Presentation Operator Good day everyone and welcome to Pfizer's First Quarter 2022 Earnings Conference Call. Transcripts Filters Announcement Date Until May 26, 2022 at 10:41 am Thank you very much, Louise. At Pfizer, trust is everything. Mikael, what is the secret ingredient? This is Keith on for Evan. CI Transcript : Pfizer Inc. - Shareholder/Analyst Call 27/04. Treatment with TALZENNA and XTANDI resulted in statistically significant improvement in overall response rates, which suggest a potential cooperative effect between the two treatments. I think also, we need to increase their surprise and are highly committed to do that by explaining better the strategy more importantly, executing on it. And I think on all of those counts, Pfizer is a winner. Prevnar 20, our 20-valent pneumococcal conjugate vaccine, is now approved for children aged 6 weeks through 17 years. With this solid start to the year, we remain on track to grow our non-COVID revenues by 7% to 9% operationally in 2023. Thank you, Chris. And I think that we're going to compete well. What data do you have in hunt today and you want to act against that second phase of data in front of the FDA approval? I also want to point out that our control arm of XTANDI reaffirmed XTANDI is best-in-class NHT for the indication with a radiographic PFS of 22 months. Twilio (TWLO) Earnings Date, Estimates & Call Transcripts $63.27 -0.54 (-0.85%) (As of 06/29/2023 ET) Compare Today's Range $63.01 $64.63 50-Day Range $45.83 $69.62 52-Week Range $41.00 $98.67 Volume 2.48 million shs Average Volume 4.61 million shs Market Capitalization $11.64 billion P/E Ratio N/A Dividend Yield N/A Price Target $73.88 We did it because it was the right thing to do. PFIZER, INC. : Actualits, news et informations Action PFIZER, INC. | PFE | US7170811035 | Deutsche Boerse AG So we are incredibly proud of the work that we have done with Nurtec since the acquisition. Two questions on the RSV vaccine. We expect media to report out and we have an aspirational target to start Phase 3, late this year posted earlier. Next question please. Thank you, ladies and gentlemen. Earnings When is Twilio's next earnings announcement? So, we expect that the HR population, which is 25% will be compelling with the data and we'll also continue to present additional data in HR subpopulation at ASCO in 2023. Thank you, Dave. As such, we expect our non-COVID revenues to grow at a faster rate in the second half of the year than in the first. Let me answer the COVID question and then Angela will answer the I&I landscape. And the real question there is that I know you when you provide guidance in the beginning of the year. With that, I will turn the call over to Albert. Merck & Co., Inc. (MRK) Earnings Date, Estimates & Call Transcripts $113.54 +1.10 (+0.98%) (As of 06/29/2023 ET) Compare Today's Range $111.81 $113.88 50-Day Range $108.60 $118.38 52-Week Range $84.52 $119.65 Volume 6.14 million shs Average Volume 7.92 million shs Market Capitalization $288.10 billion P/E Ratio 22.18 Dividend Yield 2.57% Even with the Seagen deal, given the strength of our balance sheet and cash flows, we continue to have the flexibility to take additional actions to create shareholder value. And we think it's a differentiated product, and I assume will be sooner after a potential approval and opportunity for Angela to launch to very eagerly awaiting community of increasingly attentive pregnant women and maternal clinics to protect the newborn. So, I think very soon we will be able to share more. So, the trial is in the last leg for readout. So, Louise, as you know, both of these products, both Comirnaty and Paxlovid, our products are very familiar to us.
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