By Matt Grossman

 

Pfizer Inc. Tuesday offered more precise financial guidance for the full year, tightening previously issued ranges and slightly raising the midpoint of its adjusted profit forecast.

The pharmaceutical company said it now expects revenue of $48.8 billion to $49.5 billion for the full year, compared with a previous range of $48.6 billion to $50.6 billion. Pfizer now expects adjusted earnings per share of $2.88 to $2.93, a tweak from the company's previous range of $2.85 to $2.95.

Pfizer said the pandemic's effects on the company's financial performance so far were less severe than expected at the peak of the crisis, but added that the recovery has been slower than originally expected. The 2020 guidance doesn't assume a revenue contribution from Pfizer's candidate Covid-19 vaccine, which has entered a late round of testing in clinical trials.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 27, 2020 07:27 ET (11:27 GMT)

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