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Pfizer's 2015 forecast disappoints, hit by dollar

Pfizer
Adam Jeffery | CNBC

Pfizer reported stronger-than-expected quarterly results as sales of vaccines and cancer drugs increased, but the company forecast 2015 earnings below Wall Street expectations, citing patent expirations and the stronger dollar.

The largest U.S. drugmaker said on Tuesday that it earned $1.23 billion, or 19 cents per share, in the fourth quarter. That compared with $2.57 billion, or 39 cents per share, a year-earlier.

Excluding special items, Pfizer earned 54 cents per share. Analysts on average expected 53 cents, according to Thomson Reuters I/B/E/S.