Pfizer Financial News

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Pfizer India Ltd, a subsidiary of the American pharmaceutical major, is set to expand its operations despite the massive cost-cutting initiative by its parent, Meenakshi Nevatia, country president and managing director of Pfizer India said in an interview. “India is a priority market. And Pfizer will only expand in India.

Realty firm Brigade Enterprises has formed a partnership with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru that has an estimated sales value of Rs 2,100 crore. The 14-acre land parcel is located at Yelahanka in North Bengaluru. Brigade Enterprises Ltd has signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop around 2 million sq ft of residential project in Bengaluru with a Gross Development Value (GDV) of Rs 2,100 crore, the company said in a regulatory filing on Thursday. «We will create a wonderful residential development worthy of the marquee location. We anticipate the project to yield a revenue realisation of Rs 2,100 crore on completion,» Brigade Enterprises Ltd Managing Director Pavitra Shankar said. The company has been acquiring land outright and through JDAs to expand its business amid strong demand for residential properties. Last month, Brigade bought a 9.71-acre land parcel in Hyderabad for Rs 660 crore to expand its business. In August, Brigade Enterprises acquired a 6.54-acre land parcel in Chennai from Pfizer Healthcare India for nearly Rs 139 crore to develop a residential project. Recently, Brigade Enterprises has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year.

Obesity rates in the U.S. have been rising steadily for well over a decade and some of the world’s biggest drug developers are tapping into the growing treatment market

Pfizer Inc. is cutting 500 jobs at its Sandwich, Kent site in the UK as part of a cost-cutting effort, a report by Sky News said on Tuesday.

(Reuters) — Pfizer (NYSE:PFE) will cut 500 jobs at its Sandwich, Kent site in the U.K. as part of a cost-cutting effort, the drugmaker said on Tuesday.

The Nifty Pharma index is trading at a price-to-earnings multiple of 31, lower than its five-year average of 36. Fund managers bought into stocks like Aurobindo Pharma, Cipla, Pfizer, Lupin, JB Chemicals, Alkem, and Syngene International.

Shares of Alkem Laboratories Ltd.(up 5.28 per cent), Gland Pharma Ltd.(up 4.97 per cent), Aurobindo Pharma Ltd.(up 3.29 per cent), Ipca Laboratories Ltd.(up 2.21 per cent) and Zydus Lifesciences Ltd.(up 2.12 per cent) ended the day as top gainers in the pack. On the other hand, Lupin Ltd.(down 0.8 per cent), Divi's Laboratories Ltd.(down 0.72 per cent), Pfizer Ltd.(down 0.71 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(down 0.68 per cent) and Laurus Labs Ltd.(down 0.65 per cent) finished as the top losers of the day.

Gland Pharma Ltd.(up 4.52 per cent), Ipca Laboratories Ltd.(up 1.88 per cent), Dr. Reddy's Laboratories Ltd.(up 1.75 per cent), Aurobindo Pharma Ltd.(up 1.58 per cent) and Zydus Lifesciences Ltd.(up 1.53 per cent) were among the top gainers.

FRANKFURT (Reuters) — BioNTech (NASDAQ:BNTX) has cut its 2023 revenue target by about 1 billion euros ($1.1 billion) on lower demand for the COVID-19 vaccine made with Pfizer (NYSE:PFE) but said the impact from write-downs at its U.S. partner was less then initially thought.

smallcap stocks including Suzlon Energy, Kalyan Jewellers, KEI Industries and the newly-listed JSW Infra can get upgraded to midcap status. Calculations done by Nuvama show that the remaining 10 stocks waiting to enter the midcap universe are Mazagon Dock, Lloyds Metal, SJVN, CreditAccess Grameen, Emami, Exide Industries, Ajanta Pharma, Glenmark Pharma, Nippon Life and Fivestar Business. Suzlon, the stock of which has rallied over 300% in the last 6 months, is also seen entering the MSCI India Standard Index in its quarterly review on 14th November. Stocks which can get downgraded from midcap to smallcap are Rajesh Exports, Aarti Industries, Pfizer, Vinati Organics, Crompton Greaves, Bharat Dynamics, Atul, Navin Fluorine, Whirlpool, Laurus Labs, Sumitomo Chemicals, Aditya Birla Fashion, Bata India and Kajaria Ceramics. The mutual fund body will announce a reshuffle in the first week of January 2024 and will be applicable from February to July 2024. «The change in categorization doesn’t lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes,» Nuvama said. Stocks which can move from largecap to midcap are, UPL, Adani Wilmar, IRCTC, PI Industries, Bosch, Tube Investments, Hero Motocorp and Samvardhana Motherson. On the other hand, Nuvama sees IRFC, Power Fin Corp, Polycab Macrotech, Shriram Finance, Union Bank, Indian Overseas Bank, REC Ltd and Jio Financial getting largecap status. AMFI categorises stocks on the basis of its 6-month average market capitalisation.

GlaxoSmithKline Pharmaceuticals Ltd.(up 1.55 per cent), Laurus Labs Ltd.(up 1.18 per cent), Ipca Laboratories Ltd.(up 1.05 per cent), Dr. Reddy's Laboratories Ltd.(up 0.97 per cent) and Gland Pharma Ltd.(up 0.95 per cent) were among the top gainers.

Shares of Granules India Ltd.(up 2.98 per cent), Abbott India Ltd.(up 1.84 per cent), Torrent Pharmaceuticals Ltd.(up 1.71 per cent), Lupin Ltd.(up 1.48 per cent) and Natco Pharma Ltd.(up 1.36 per cent) ended the day as top gainers in the pack. On the other hand, Dr.

Pfizer lost more than $2 billion in the third quarter as an expected COVID-19 product sales decline clipped revenue

Pfizer on Tuesday urged investors to focus on growth in its non-COVID products such as its new RSV vaccine Abrysvo, after weak demand for its COVID-19 vaccine and treatment pushed the drugmaker to its first quarterly loss since 2019.

Investing.com — U.S. stocks are wobbling on Tuesday, ahead of the start of the latest two-day policy meeting of the Federal Reserve and as investors look toward Apple (NASDAQ:AAPL)'s earnings and the October jobs report.

Investing.com — U.S. stocks are falling to close the month of October on a down note, with the major indexes on pace to notch monthly declines.

₹1,128.40 apiece on the BSE. Also Read: Lupin Q2 Results: Board to meet on November 8 to discuss unaudited results This month, the pharma major received approval from the US FDA to market its generic Fluconazole tablets and another generic medicine used to treat daytime sleeplessness. Fluconazole tablets are used in the treatment of fungal infections.

By Rania Gule

Investing.com -- U.S. stock futures were mixed on Tuesday, with the Federal Reserve's all-important policy decision later in the week front and center. Elsewhere, economic bellwether Caterpillar (NYSE:CAT) is set to release its latest quarterly earnings, while hopes for a recovery in Chinese growth were dented by disappointing manufacturing activity data.

All three major U.S. stock indexes closed up more than 1%, bouncing back from the previous week's sell-off.