The cash proceeds from this deal will allow PFE to increase share buybacks above the $5B authorization announced in February (#msg-59431699), which is IMO the best use of PFE’s capital. (I.e. PFE’s balance sheet still has plenty of room to add leverage.)
Absent the $750M annual revenue from the Capsugel unit, PFE has adjusted its 2011 and 2012 revenue guidance by a corresponding amount: the new ranges are $65.2-$67.2B in 2011 and $63.0-65.5B in 2012, the first full year after Lipitor goes generic.
PFE’s revenue from emerging markets was only a small portion of the total in 2010 ($2.4B), but it is growing at a very rapid clip (#msg-59590951).
There is not change in non-GAAP EPS guidance on account of the Capsugel deal: the ranges remain $2.16-2.26 in 2011 and $2.25-$2.35 in 2012 (#msg-59431699).
Pfizer Inc. invites investors and the general public to view and listen to a webcast of a conference call with investment analysts at 10 a.m. EDT on Tuesday, May 3, 2011. The purpose of the call is to provide an update on Pfizer’s results, as reflected in the company’s First Quarter 2011 Performance Report, to be issued that morning.
To view and listen to the webcast and view the Performance Report, visit our web site at www.pfizer.com and click on the “Pfizer Quarterly Corporate Performance – First Quarter 2011” link in the Investor Presentations section located on the lower right-hand corner of that page. Information on accessing and pre-registering for the webcast will be available at www.pfizer.com beginning today. Participants are advised to pre-register in advance of the conference call.
You can also listen to the conference call by dialing either 866-246-2545 in the United States and Canada or 706-634-2365 outside of the United States and Canada. The password is “First Quarter Earnings”.
Visitors to www.pfizer.com will be able to view and listen to an archived copy of the webcast of the conference call.
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