Solid FY18 guidance marred by Ibrance EU price
4Q17 key products mostly strong, but a large pricing "true-up" on International Ibrance drove Innovative Health down to +5% op. growth vs 11% in 3Q17. FY18 guidance implies 3.8% revenue growth and 11% adj. EPS growth, benefiting from an adj. tax rate of 17%, a 600bps improvement over FY17 guidance.Pfizer is a research-based biopharmaceutical company. The company is engaged in discovering, developing, manufacturing and distributing of healthcare products, including medicines and vaccines. The company manages its commercial operations through three businesses: Pfizer Biopharmaceuticals Group, which includes Oncology, Inflammation and Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine business units, as well as a hospital business unit; Upjohn, which includes the company's solid oral dose brands such as Lyrica, Lipitor, Norvasc, Celebrex, Viagra, and certain generic medicines; and Consumer Healthcare, which is an over-the-counter medicines business.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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