, Columnist
Pfizer's Subpar Outlook Embodies Pharma's Plight
The industry faces headwinds that may become only more acute as scrutiny over drug prices intensifies.
Pricing pressure, pipeline issues and more.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
On a day when drugmakers’ pricing practices are set to be scrutinized at two separate Congressional hearings, the industry could have used a boost from one of its stalwarts. Instead, Pfizer Inc. became the latest of a group of big pharma firms to report disappointing earnings – in its case, full-year profit and revenue guidance that fell short of analysts’ estimates.
Each company has its idiosyncratic issues, and the strong dollar isn’t helping. But they’re all facing headwinds that may become only more acute as the focus on pricing intensifies.