PFE Pfizer Inc

By Ezequiel Minaya 

Pfizer Inc. on Wednesday boosted its full-year revenue and adjusted-earnings outlooks to reflect its recently completed acquisition of Hospira Inc.

The New York-based drug maker slightly raised its sales forecast for the year to between $46.5 billion and $47.5 billion from a previous range of $45 billion to $46 billion, and said adjusted earnings per share would also likely be higher at $2.04 to $2.10, as opposed to the previous range of $2.01 to $2.07.

The company also lowered its bottom-line guidance for earnings per share to a range of $1.29 to $1.38, down from its previously given range of $1.38 to $1.47.

Shares of Pfizer rose 0.8% to $31.28 in recent premarket trading.

Pfizer acquired smaller rival Hospira in a $16 billion deal that closed earlier this month. The acquisition is expected to transform the pharmaceutical company into a leading player in the emerging market for lower-priced knockoffs of costly biotech drugs. Under the terms of the deal, Hospira shareholders received $90 a share in cash.

Regulators had worried that the two companies, both based in the U.S., would together have a high market share for certain sterile injectable drugs, which are administered with a hollow hypodermic needle. To ease those fears, Pfizer agreed to divest itself of four U.S. sterile-injectable assets.

European regulators were also concerned that the companies might delay or discontinue production of a copycat version of Infliximab, a popular drug used to treat autoimmune diseases such as rheumatoid arthritis and Crohn's disease.

To address those concerns, Pfizer agreed to fully divest itself of the development, manufacturing and marketing rights of its Infliximab-biosimilar drug currently in development, though it will retain marketing rights outside Europe.

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com

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(END) Dow Jones Newswires

September 30, 2015 09:29 ET (13:29 GMT)

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