Pfizer Inc. - PFE STOCK NEWS

Pfizer Inc. (NYSE: PFE) has announced a quarterly cash dividend of $0.41 per share for the second quarter of 2023. This dividend will be payable on June 9, 2023, to shareholders recorded by the close of business on May 12, 2023. This marks the 338th consecutive quarterly dividend paid by the company, highlighting its long-standing commitment to returning value to its shareholders. Pfizer continues to focus on bringing innovative therapies to the market and maintaining a robust financial position.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) for Blue Whale Re Ltd., with a stable outlook. The ratings reflect Blue Whale's very strong balance sheet strength and strong operating performance, highlighting its role as the only captive insurer for Pfizer. Blue Whale insures Pfizer’s global property exposures, enhancing its enterprise risk management.

The company maintains substantial net property retentions and a diverse reinsurance program. Despite its low average loss ratios, it has moderate volatility in key metrics due to high retentions. Negative rating action could arise if Pfizer's support for Blue Whale diminishes.

Pfizer Inc. (NYSE: PFE) invites shareholders and the public to its virtual-only 2023 Annual Meeting of Shareholders on April 27, 2023, at 9:00 a.m. EDT. Shareholders can access the meeting via this link. Registration opens today, and shareholders may log in starting at 8:45 a.m. EDT. Questions can be submitted in advance until 5:00 p.m. EDT on April 25. Guests can join in listen-only mode. A replay will be available for up to one year at investors.pfizer.com.

Pfizer Inc. (NYSE:PFE) announced that the FDA has accepted for review the Supplemental New Drug Applications (sNDAs) for BRAFTOVI (encorafenib) + MEKTOVI (binimetinib) targeting metastatic non-small cell lung cancer (NSCLC) with a BRAF V600E mutation. The PDUFA goal date for a decision is set for Q4 2023. Currently, BRAFTOVI + MEKTOVI is approved for melanoma and colorectal cancer treatments. The sNDAs are based on the PHAROS trial results, which showed promising efficacy. However, the PR also mentions various risks and adverse effects associated with treatment, emphasizing the importance of ongoing monitoring.

Pfizer invites investors to join a conference call at 10 a.m. EDT on May 2, 2023 to discuss its First Quarter 2023 Performance Report. The call aims to provide insights into the company’s latest financial results. Interested parties can access the webcast and report via www.pfizer.com/investors, where registration details are also provided. Callers in the U.S. and Canada can dial 800-456-4352, while international participants should call 785-424-1086, using passcode “51512.” A transcript and replay will be available for 90 days after the call.

Pfizer (NYSE: PFE) and Astellas Pharma have announced positive topline results from the Phase 3 EMBARK trial, evaluating XTANDI (enzalutamide) in men with non-metastatic hormone-sensitive prostate cancer (nmHSPC) experiencing high-risk biochemical recurrence. The trial met its primary endpoint, demonstrating a significant improvement in metastasis-free survival (MFS) for patients treated with XTANDI plus leuprolide over placebo. Additionally, significant improvements were noted for patients on XTANDI monotherapy. A positive trend in overall survival was also observed and further data analysis is ongoing. Detailed results will be presented at a future medical meeting.

Pfizer and Astellas announced positive topline results from the Phase 3 EMBARK trial for XTANDI (enzalutamide) in men with non-metastatic hormone-sensitive prostate cancer (nmHSPC) at high risk for biochemical recurrence. The trial met its primary endpoint, showing a statistically significant improvement in metastasis-free survival when comparing XTANDI plus leuprolide to placebo plus leuprolide. Additionally, XTANDI monotherapy also demonstrated significant benefits. Preliminary safety analyses revealed no new safety signals. Further details will be presented at future medical meetings, and discussions with the FDA for regulatory submission are anticipated.

Pfizer announced that the FDA's Antimicrobial Drugs Advisory Committee (AMDAC) voted 16 to 1 in favor of PAXLOVID™ for treating mild-to-moderate COVID-19 in high-risk adults. This vote, while non-binding, will influence the FDA's decision by the target PDUFA action date in May 2023. PAXLOVID demonstrated an 86% reduction in hospitalization or death risk when taken early in symptomatic patients during clinical trials. Currently, over 10 million treatment courses are prescribed. If approved, PAXLOVID would be the first oral COVID-19 treatment sanctioned by the FDA. The EU has already granted marketing authorization for the drug.