1. Scrip
  2. >>Business
  3. >>Stock Watch

Stock Watch: Pfizer’s Q2 Windows Into Wider 2024 Issues

Vaccine Sales And China Continue As Second-Quarter Headwinds

 
• By Andy Smith

One company’s weak quarterly sales should not make a pharmaceutical winter. But combine the lower sales of major vaccine families across three companies’ portfolios with weak demand in China and it starts to feel chilly.    

Andy Smith
ANDY SMITH OFFERS A LIFE SCIENCE INVESTOR'S PERSPECTIVE ON BIOPHARMA BUSINESS

When Pfizer Inc.* reported second quarter of 2024 results, its stock price initially dipped by 3%, helping the NYSE Arca Pharmaceutical index (DRG) to go down by 2% before a recovery that saw Pfizer’s stock price finish up by over 2% and the DRG closing down by under 1%. Pfizer’s second-quarter revenues grew by 2% on the same quarter of 2023 to beat analysts’ consensus estimates by the same margin. (Also see "Pfizer Bullish On Danuglipron’s Position In Oral GLP-1 Race" - Scrip, 30 July, 2024.) Like other companies in second-quarter earnings season that received positive investor receptions, Pfizer raised its full-year 2024 sales guidance by just under 2% at the midpoint. Foreign currency movements “had a minimal incremental impact” on Pfizer’s financial guidance since it was last issued in May. In comparison, foreign exchange did have an impact on AstraZeneca PLC’s full-year financial guidance at the start of earnings season, probably due to its exposure to China and the almost 1% weakening of the Chinese yuan against the US dollar in the last quarter.

There were winners and losers in Pfizer’s second-quarter results. On the face of it, Pfizer’s second-quarter oncology sales were a...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Stock Watch

Stock Watch: Sanofi Basks While Novartis Falters As Their Biggest Products’ Fates Diverge

 
• By Andy Smith

Stock reactions to Sanofi’s and Novartis’s third-quarter results differed and involved a number of moving parts, including weak influenza vaccine sales at Sanofi. Both results were dominated by sales of their biggest drugs.

Stock Watch: Quarterly Sales Growth Eludes Roche

 
• By Andy Smith

With third-quarter sales down year-on-year and quarter-on-quarter, Roche instead emphasized its performance over the first nine months of 2025, leading on the cumulative foreign exchange impact in the year to date to explain softer sales growth.

Stock Watch: J&J’s $5bn Product Predictions Meet Investor Skepticism

 
• By Andy Smith

Despite announcing sales growth that is currently weathering the storm of one of its biggest losses of exclusivity and a spin-off of its orthopedic division, J&J’s stock price weakened after its earnings announcement. Investors probably wanted more visibility on MFN.

Stock Watch: Biotechs Cannot Outrun Safety And Efficacy Requirements Forever

 
• By Andy Smith

Leaning on the “totality of the data” despite proof of functional efficacy, some biotechs seek conditional approval for rare disease drugs. The experiences of PTC, Sarepta, Sage and Intercept illustrate the risks of this approach.

More from Business

Aurobindo On Easier US Biosimilar Pathway, Zentiva Miss And Deal Strategy

 
• By Vibha Ravi

Do US FDA’s efforts at simplifying the biosimilar pathway create more competition and threaten Aurobindo Pharma's return on investments? Management speaks on this, biosimilar filing plans and deal strategy at the Q2 FY26 earnings call

Korean Biosimilars Giants Step Up Race To Become Innovators

 
• By Jung Won Shin

South Korea’s two biosimilars giants have laid out differing strategies to pursue innovative drug R&D, although both are positioning ADCs as a core focus.

AstraZeneca Stays Coy On US Pricing Deal Impact

 
• By Andrew McConaghie

Another strong quarter keeps AstraZeneca on track to meet its $80bn sales ambition, and its CEO maintains the recent Trump deal provides pricing reassurance, despite a lack of details so far.