Confident Pfizer sticks to 2020 game plan

In its first quarterly results statement of the year, New York-based pharma giant Pfizer (NYSE: PFE) revealed net income of $3.4 billion, better than analysts had expected, based on revenues of $12 billion.

Following Generally Accepted Accounting Principles (GAAP), the earnings per share (EPS) figure for the first quarter of 2020 was $0.61, down 10%.

While the result was enhanced by higher sales of Eliquis (apixaban), a blood thinner, and Ibrance (palbociclib), a cancer med, sales were overall 8% lower than in the same period last year, a sign of what may be to come as disruption from the coronavirus pandemic bites.