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Pharmaceutical Company Cuts Outlook Due to Patent Expirations and Strong Dollar

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Pfizer's (PFE) new drugs pipeline gave their first quarter earnings a boost on Tuesday. The company beat estimates posting profits of $2.4B or $0.51 per share. Revenue was down on last year's numbers, coming in at $10.86 billion. The pharmaceuticals giant was hurt by the strong dollar and a wave of patent expirations. Pfizer cut its full year outlook for 2015 and lowered revenue forecasts to to $46.5 billion. The company saw a 44% increase in global vaccine revenue and agreed to buy injectable drugs maker Hospira for $16 billion back in February. Pfizer stock is up around 11 percent this year. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet
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