Pfizer 2016 forecast disappoints

U.S. drugmaker Pfizer Inc on Tuesday forecast 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. Pfizer, which plans to buy Botox maker Allergan Inc in the second half of this year, said it expected earnings of $2.20 to $2.30 per share in 2016. Tony Scherrer, director of research at Smead Capital Management, said Pfizer shares would eventually benefit from new products and acquisitions.