US drugmaker Pfizer Inc cut its full-year revenue and profit forecast, blaming a stronger dollar. However, the drugmaker reported a better-than-expected first-quarter profit, helped by demand for its vaccines and cancer drugs.
Pfizer's shares were roughly unchanged at $34.62 in premarket trade on Tuesday morning.
The company, which got 60 percent of its 2014 revenue from outside the United States, cut its 2015 revenue forecast to $44-$46 billion from $44.5-$46.5 billion.
Pfizer's net profit rose to $2.38 billion, or 38 cents per share, in the latest quarter, from $2.33 billion, or 36 cents per share, a year earlier.
Excluding items, Pfizer earned 51 cents per share, beating the average analyst estimate of 49 cents, according to Thomson Reuters I/B/E/S.
Revenue fell 4 percent to $10.86 billion, but beat analysts' estimate of $10.76 billion. Pfizer's global vaccines sales rose 44 percent to $1.33 billion.