Pfizer forecasts revenues to be hit by strong dollar
US pharma giant Pfizer (NYSE: PFE) has lowered its estimate for total 2018 revenues in presenting its second quarter 2018 financial results.
Shares in the company rose 2% in the first 90 minutes of trading based on a mixed set of results, positive management comments on its pipeline and the updated guidance on revenues, which are now expected to be between $53 billion and $55 billion, the previous estimate having been between $53.5 billion and $55.5 billion. Pfizer blamed this change on the strength of the dollar and the comparative weakening of the euro, Chinese yuan and Japanese yen.
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