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Pfizer to buy weight-loss drug developer Metsera

Pfizer said today it would acquire weight-loss drug developer Metsera in a deal valued at up to $7.3 billion, including future payments, to secure its position in the lucrative obesity treatment market.

Business • 22 Sep

Pfizer raises annual profit forecast

US drugmaker Pfizer raised its full-year profit forecast today after reporting better-than-expected results for the second quarter, boosted by strong demand for its heart disease drug, Vyndaqel, and blood thinner, Eliquis.

Business • 05 Aug

Pfizer had an Irish workforce of about 5,000 across four locations based in Cork, Dublin and Kildare

Pfizer misses first quarter revenue expectations

Pfizer said today it would generate $1.7 billion more in savings from cost-cutting to its manufacturing and research operations and reported lower first-quarter revenue due to declining sales of its Paxlovid Covid-19 treatment.

Business • 29 Apr

The company had been testing multiple doses of a once-a-day version of the oral drug

Pfizer ends development of weight-loss pill danuglipron

Pfizer said today it has discontinued development of experimental weight-loss pill danuglipron after a trial patient experienced potential drug-induced liver injury that resolved after the medication was stopped.

Business • 14 Apr

Haleon was created by the merger of GSK and Pfizer's consumer healthcare businesses in 2019

Pfizer sells entire Haleon stake for £2.5 billion

Drugmaker Pfizer has sold its entire stake in Haleon for about £2.5 billion to institutional investors and the consumer healthcare firm at 385 pence per share, a bookrunner for the deal said today.

Business • 19 Mar

Pfizer's Paxlovid antiviral treatmen brought in sales of $727m for the fourth quarter

Pfizer beats profit estimates on cost cuts, vaccine sales

Drugmaker Pfizer has today posted a better than expected fourth quarter profit, helped by cost cuts and a smaller-than-feared drop in sales of its Covid-19 vaccine.

Business • 04 Feb

The unit, now called Pfizer Hospital, was formed after Pfizer bought Hospira for about $17 billion in 2015.

Pfizer explores sale of hospital drugs unit, sources say

Pfizer is exploring the sale of its hospital drugs unit, as the drugmaker, which has been under pressure from activist investor Starboard Value, looks to divest non-core assets, according to three people familiar with the matter.

Business • 12 Nov 24

Pfizer saw strong sales of its Covid-19 treatment Paxlovid in the third quarter of this year

Pfizer profit up on third quarter Covid treatment sales

Pfizer has today reported higher-than-expected third quarter profit due to strong sales of Covid-19 treatment Paxlovid, an important win for chief executive Albert Bourla as he faces down activist investor Starboard.

Business • 29 Oct 24

The job cuts are part of a global, $1.5bn cost-cutting programme announced by the pharmaceutical firm in May

Pfizer to cut up to 210 jobs at Irish facilities

Pharmaceutical firm Pfizer is to cut more jobs at its Irish manufacturing facilities, as part of a global cost-cutting programme.

Business • 01 Oct 24

Haleon was created by the merger of GSK and Pfizer's consumer healthcare businesses in 2019 and spun off from the UK drugmaker in 2022

Pfizer sells $3.3 billion stake in Sensodyne-maker Haleon

Pfizer has sold a stake in British consumer healthcare group Haleon worth about $3.26 billion, cutting its shareholding in the maker of Sensodyne toothpaste and Panadol and Advil painkillers to 15% from 22.6%.

Business • 01 Oct 24

Pfizer has posted better than expected sales for its Covid vaccine and antiviral treatment.

Pfizer raises profit forecast on Covid sales

US drugmaker Pfizer has today raised its annual profit forecast after posting better-than-expected sales for its Covid vaccine and antiviral treatment.

Business • 30 Jul 24

Shares of US drugmaker Pfizer have lost 11% of their value this year

Pfizer lifts 2024 profit view on cost cuts

Pfizer has today lifted its annual profit forecast, banking on cost cuts, a smaller-than-feared drop in sales for its Covid antiviral treatment and strong demand for pneumonia vaccine.

Business • 01 May 24

Haleon makes household brands such as Sensodyne toothpaste and Advil painkillers

Pfizer to cut stake in Sensodyne toothpaste-maker Haleon

Consumer healthcare firm Haleon has said that US drugmaker Pfizer, its top shareholder, will sell down its stake in the company to about 24%.

Business • 19 Mar 24

Pfizer posted a surprise quarterly profit, as Covid products demand was better than expectations

Pfizer posts surprise profit on demand for Covid products

Pfizer has today reported a surprise quarterly profit, as Covid products demand was better than the company's expectations and research costs declined.

Business • 30 Jan 24

The lower forecasts come a day after the drugmaker said it would reorganise its cancer division to include the acquisition of Seagen.

Pfizer shares sink after weak 2024 forecasts

Pfizer forecast 2024 sales that were as much as $5 billion below Wall Street expectations due mostly to declining demand for Covid vaccines and treatment, driving shares down 7% in premarket trading.

Business • 13 Dec 23

Speaking in Dublin Mr Bourla said he believes the world is on the cusp of a scientific renaissance

Irish operations a key element in Pfizer's growth plan

The global chairman and chief executive of pharma giant Pfizer has said the company is committed to Ireland.

Business • 04 Dec 23

However, the company is also expanding its workforce at its production plant in Grangecastle, Co Dublin and Ringaskiddy in Cork.

Pfizer to cut 100 jobs at Newbridge manufacturing plant

Pharmaceutical company Pfizer is to reduce the number of people it employs at its manufacturing plant in Newbridge, Co Kildare by 100.

Business • 08 Nov 23

Pfizer said that sales of Paxlovid sales slumped 97% in the third quarter to $202m

Pfizer quiet about Irish operations as it posts Q3 loss

Pharmaceutical giant Pfizer has remained tight-lipped about whether a $3.5 billion global cost-cutting plan could impact its operations in Ireland as it published its third quarter results.

Business • 31 Oct 23

Roche has today announced a deal for Telavant Holdings, which has developed a new treatment for inflamatory bowel diseases

Roche buys Telavant Holdings for $7.1 billion

Roche said today it will buy Telavant, a developer of a new treatment for inflammatory bowel diseases, for an initial $7.1 billion from US biotech firm Roivant Holdings and Pfizer.

Business • 23 Oct 23

Pfizer has cut its full-year forecast for sales of its antiviral Covid treatment Paxlovid by about $7 billion

Pfizer, BioNTech shares fall on sales uncertainty

Shares of Pfizer and German partner BioNTech fell today after the US drugmaker slashed the sales forecast for its Covid vaccine and therapy last week, and some analysts said the reduction was bigger than expectations.

Business • 16 Oct 23

Ibec CEO Danny McCoy and its new President Paul Duffy

Paul Duffy named as new Ibec President

Business group Ibec has appointed Paul Duffy, Senior Vice President of Pfizer Global Supply, as its new President for 2023 to 2024.

Business • 07 Sep 23

Sales of Pfizer's antiviral treatment Paxlovid revenue tumbled 98% to $143m in its latest quarter

Pfizer eyes cost cuts on volatile Covid products demand

Pfizer will launch a cost-cutting programme if demand for its Covid-19 products keeps underperforming expectations this fall, the US drugmaker said today, after quarterly sales for the vaccine and pill fell short of Wall Street targets.

Business • 02 Aug 23

Pfizer's Ringaskiddy plant is the firm's largest production facility outside the US

Pfizer workers at Ringaskiddy in line for 8.5% pay hike

SIPTU has fallen short in its bid for a 12.5% pay increase for 300 workers over two years at Pfizer's Irish manufacturing centre for Viagra at Ringaskiddy in Cork.

Business • 27 Jul 23

BioNTech said its quarterly net profit dropped to €502m, down from €3.7 billion a year earlier

BioNTech broadens scope as Covid shot sales slide

Germany's BioNTech, Pfizer's partner on Covid-19 vaccines, said today its first-quarter net income plunged on lower demand for the shots as it widens its work on cancer and other diseases.

Business • 08 May 23

Sales of Pfizer's antiviral treatment Paxlovid sales came in at $4.07 billion - beating estimates of $3.13 billion.

Pfizer beats profit estimates on demand for new drugs

Pfizer has today beaten analysts' estimates for first-quarter profit on strong demand for its newly acquired drugs and steady demand for its Covid products.

Business • 02 May 23