Biopharmaceuticals power Pfizer in the first quarter

Biopharmaceuticals power Pfizer in the first quarter
In this Friday, April 26, 2019 photo, a box of RELPAX migraine pills manufactured by Pfizer are arranged for a photo in Doral, Fla. Pfizer Inc. reports financial results Tuesday, April 30. (AP Photo/Wilfredo Lee)

NEW YORK (AP) — Pfizer is reporting a 9% jump in first quarter profit on a strong showing from its biopharmaceutical group.

The New York drugmaker on Tuesday reported earnings of .88 billion, or 68 cents per share. Earnings, adjusted for non-recurring costs, were 85 cents per share, far exceeding projections of 77 cents from Wall Street analysts, according to a survey by Zacks Investment Research.

Revenue was 3.12 billion.

Pfizer Inc. expects full-year earnings in the range of .83 to .93 per share, with revenue in the range of 2 billion to 4 billion.

Pfizer shares are moving higher before the opening bell.


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