Generics and a Strong Dollar Are Cutting Into Pfizer’s Profits by @FortuneMagazine February 2, 2016, 10:41 AM EST E-mail Tweet Facebook Linkedin Share icons Drugmaker Pfizer pfe which is in the process of buying Botox-maker Allergan agn for $160 billion, forecast 2016 revenue and earnings below analysts’ estimates, citing generic competition and a strong dollar. The company said it expects reported revenue of $49 billion-$51 billion for the full year and adjusted earnings of $2.20 to $2.30 per share. Analysts on average were expecting revenue of $52.49 billion and earnings of $2.36 per share. However, Pfizer reported better-than-expected revenue in the fourth quarter, helped by demand for its pneumonia vaccine and its Hospira acquisition. Revenue rose 7% to $14.05 billion in the fourth quarter, ahead of the average analyst estimate of $13.56 billion, according to Thomson Reuters I/B/E/S. Global Vaccines revenue rose 45% to $1.92 billion, driven by a 102% growth in its pneumonia vaccine, Prevnar 13, in the U.S. Pfizer bought Hospira for about $15 billion last year to boost its portfolio of generic injectable drugs and copies of biotech medicines. The deal closed on Sept. 3. Net income fell to $613 million, or 10 cents per share in the quarter, from $1.23 billion, or 19 cents per share, a year earlier. On an adjusted basis, the company earned 53 cents per share, above analysts’ average estimate of 52 cents. The company agreed to buy Allergan last year in a deal that will slash its tax rate. The deal, which will shift Pfizer’s headquarters to Dublin, is slated to close in the second half of 2016.