Health Care

GE HealthCare Reports Third Quarter 2023 Financial Results

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GE HealthCare Reports Third Quarter 2023 Financial Results — Revenue growth was 5% year-over-year; Organic revenue growth* of 6% — Net income attributable to GE HealthCare was $375 million versus $487 million for the prior year; Adjusted EBIT* $744 million versus $700 million — Net income margin was 7.8% versus 10.6% for the prior year; Adjusted EBIT margin* was 15.4% versus Standalone EBIT margin* of 14.2% — Diluted EPS was $0.83 versus $1.07 for the prior year; Adjusted EPS* was $0.99 versus Standalone Adjusted EPS* of $0.87 — Cash flow from operating activities was $650 million versus $622 million for the prior year; Free cash flow* was $570 million versus $548 million — The Company raises low end of full-year Adjusted EPS* guidance range CHICAGO—-October 31, 2023– GE HealthCare (Nasdaq: GEHC), a leading global precision care innovator, today reported financial results for the third quarter ended September 30, 2023. GE

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Pfizer Reports Third-Quarter 2023 Results

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Pfizer Reports Third-Quarter 2023 Results — Third-Quarter 2023 Revenues of $13.2 Billion — Expected Decline in Paxlovid and Comirnaty(1) Revenues Drove 41% Operational Decrease in Third-Quarter 2023 Revenues — Revenues for Pfizer’s Non-COVID Products Grew 10% Operationally — Third-Quarter 2023 Reported(2) Diluted Loss Per Share (LPS) of $(0.42) and Adjusted(3) Diluted LPS of $(0.17), Significantly Impacted by $5.6 Billion of Non-Cash Inventory Write-Offs and Other Charges, Which Unfavorably Impacted Reported(2) and Adjusted(3) Diluted LPS by $0.84 — Reaffirms Full-Year 2023 Guidance(4) Provided on October 13, 2023, of Revenues of $58.0 to $61.0 Billion and Adjusted(3) Diluted EPS of $1.45 to $1.65, and Provides All Guidance Components — Reaffirms Full-Year 2023 Non-COVID Operational Revenue Growth Expectation of 6% to 8% vs. 2022 — Successful Execution of New Product and Indication Launches, including Abrysvo (Older Adult) and Prevnar 20 (Pediatric), and In-Line Product Growth Contribute to Strong Non-COVID Operational Revenue Growth —

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Pfizer Q3 Adjusted EPS $(0.17) Beats $(0.32) Estimate, Sales $13.23B Beat $12.72B Estimate

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Pfizer (NYSE:PFE) reported quarterly losses of $(0.17) per share which beat the analyst consensus estimate of $(0.32) by 46.88 percent. This is a 109.55 percent decrease over earnings of $1.78 per share from the same period last year. The company reported quarterly sales of $13.23 billion which beat the analyst consensus estimate of $12.72 billion by 4.03 percent. This is a 41.55 percent decrease over sales of $22.64 billion the same period last year.

Pfizer Q3 Adjusted EPS $(0.17) Beats $(0.32) Estimate, Sales $13.23B Beat $12.72B Estimate Read Post »

AMGEN REPORTS THIRD QUARTER FINANCIAL RESULTS

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AMGEN REPORTS THIRD QUARTER FINANCIAL RESULTS PR Newswire THOUSAND OAKS, Calif., Oct. 31, 2023 THOUSAND OAKS, Calif., Oct. 31, 2023  — Amgen (NASDAQ:AMGN) today announced financial results for the third quarter of 2023(1) . “We are excited about our pipeline progress and our operating performance in the third quarter,” said Robert A. Bradway, chairman and chief executive officer. “With the completion of the Horizon acquisition, Amgen has added rare disease medicines that fit well with our broad innovative portfolio.” Key results include: — Total revenues increased 4% to $6.9 billion in comparison to the third quarter of 2022, resulting from a 5% increase in product sales. Product sales growth was driven by 11% volume growth, partially offset by 3% lower net selling price and 3% unfavorable changes to estimated sales deductions. — Volume growth of 11% included double-digit volume growth from BLINCYTO(R) (blinatumomab), EVENITY(R) (romosozumab-aqqg), Repatha(R) (evolocumab) and Nplate(R) (romiplostim).

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Amgen Q3 Adjusted EPS $4.96 Beats $4.66 Estimate, Sales $6.90B Miss $6.94B Estimate

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Amgen (NASDAQ:AMGN) reported quarterly earnings of $4.96 per share which beat the analyst consensus estimate of $4.66 by 6.44 percent. This is a 5.53 percent increase over earnings of $4.70 per share from the same period last year. The company reported quarterly sales of $6.90 billion which missed the analyst consensus estimate of $6.94 billion by 0.59 percent. This is a 3.77 percent increase over sales of $6.65 billion the same period last year.

Amgen Q3 Adjusted EPS $4.96 Beats $4.66 Estimate, Sales $6.90B Miss $6.94B Estimate Read Post »

CFRA Retains Buy Opinion On Shares Of Amgen Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our target at $295, 15.0x our 2024 EPS, slightly above AMGN’s 10-year historical forward P/E average. We raise our 2023 EPS view by $0.38 to $18.80 and 2024’s by $0.12 to $19.68. Amgen reported Q3 EPS of $4.96 vs. $4.70 (+6% Y/Y), $0.25 above our estimate and $0.28 above the S&P Capital IQ consensus. Q3 revenues of $6.9B vs. $6.7B, up 4% Y/Y, were $45M below consensus and $237M below our estimate as the non-biologic treatment for chronic inflammatory diseases (Otezla, -10% Y/Y, $462M) and cancer treatment (Lumakras, -31% Y/Y, $48M) sales were below our forecasts. The large $28B Horizon acquisition that closed early October has been included in AMGN’s raised guidance to the $28.4B-$28B range versus $26.6B-$27.4B earlier. Horizon generated $945M revenues in Q3

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