A continuing decline in sales of COVID-19 products clips revenue at Pfizer
1 year, 1 month ago

A continuing decline in sales of COVID-19 products clips revenue at Pfizer

Associated Press  

Pfizer lost more than $2 billion in the third quarter as an expected COVID-19 product sales decline clipped revenue. Sales of the drugmaker’s COVID treatment Paxlovid and the vaccine Comirnaty slid 97% and 70%, respectively, as Pfizer, like its competitors, switched to selling on the commercial market instead of to governments. Both the company and analysts who follow it expected revenue from those key products to tumble this year before eventually rebounding as commercial sales take hold. Two weeks ago, Pfizer Inc. warned that sales of its COVID-19 drugs were weaker than it had expected, and it cut its annual revenue expectations by $9 billion.

Sales Revenue Billion Comirnaty Share Analysts Pfizer Share  billion  continuing  quarter  comirnaty  expected  sales  revenue  clips  covid19  pfizer  share  analysts  products  company  decline

History of this topic

Pfizer reports $11.4 billion profit in Dutch operations despite post-pandemic decline
1 week, 4 days ago

Pfizer reports $11.4 billion profit in Dutch operations despite post-pandemic decline

NL Times  

Pharmaceutical giant Pfizer has recorded 11.4 billion dollars in profit from its Dutch subsidiary, C.P. Pfizer’s global revenue fell sharply from 74.4 billion dollars in 2022 to 46.9 billion euros over the past year. Pfizer's Dutch arm, which had reported 19.9 billion dollars in profits in 2021/2022 and 18.7 billion dollars in 2020/2021, has now returned to pre-pandemic profit levels …

Pfizer stays the course on 2024 outlook after delivering better earnings than Wall Street forecast
10 months, 3 weeks ago

Pfizer stays the course on 2024 outlook after delivering better earnings than Wall Street forecast

Associated Press  

Pfizer turned in a better-than-expected fourth quarter, boosted by products outside the drugmaker’s slumping COVID-19 vaccine and treatment. The New York drugmaker also said Tuesday it’s reaffirming its forecast for 2024, a month after surprising Wall Street with an initial outlook that missed consensus. In the fourth quarter, Pfizer said it booked 8% operational revenue growth outside its market-leading COVID …

Switch from selling COVID-19 drugs on market rather than to governments continues to sting at Pfizer
1 year ago

Switch from selling COVID-19 drugs on market rather than to governments continues to sting at Pfizer

Associated Press  

Pfizer heads into 2024 with a lower-than-expected sales forecast for its COVID-19 vaccine and treatment after weaker demand had already forced it to trim 2023 projections. The drugmaker announced on Wednesday initial expectations for the new year that include about $8 billion in combined sales from its Comirnaty vaccine and the treatment Paxlovid. Two weeks later, Pfizer said sales of …

COVID-19 treatments to enter the market with a hefty price tag
1 year, 1 month ago

COVID-19 treatments to enter the market with a hefty price tag

Associated Press  

WASHINGTON — The COVID-19 treatments millions of Americans have taken for free from the federal government will enter the private market next week with a hefty price tag. The less commonly used COVID-19 treatment Lagevrio, manufactured by Merck, also will hit the market next week. “Pfizer is committed to a smooth commercial transition and is working collaboratively with the U.S. …

Pfizer trims expectations for 2023 with sales of COVID-19 vaccine, treatment, weaker than thought
1 year, 2 months ago

Pfizer trims expectations for 2023 with sales of COVID-19 vaccine, treatment, weaker than thought

Associated Press  

Shares of Pfizer are in retreat on the first day of trading after the drug company said sales of its COVID-19 vaccine and its coronavirus treatment are weaker than it had expected and cut revenue projections by $9 billion for the year. Pfizer is also lowering its 2023 revenue expectations for Comirnaty by approximately $2 billion due to lower-than-expected vaccination …

Pfizer 2Q numbers tumble and COVID-19 vaccine, treatment sales dry up
1 year, 4 months ago

Pfizer 2Q numbers tumble and COVID-19 vaccine, treatment sales dry up

Associated Press  

Crumbling COVID-19 vaccine and treatment sales chopped Pfizer’s second-quarter earnings, but both the drugmaker and Wall Street expect a rebound in the back half of 2023. Pfizer recorded no U.S. sales of its treatment, Paxlovid, in the recently completed quarter, as the company shifts to selling the pills on the commercial market after contracting with the government. Sales of the …

Pfizer tops Q1 forecasts; vaccine sales slide as expected
1 year, 7 months ago

Pfizer tops Q1 forecasts; vaccine sales slide as expected

Associated Press  

Pfizer beat first-quarter forecasts as revenue took an expected dip, but the drugmaker predicted a sales rally later this year. The company said Tuesday that it also expects significantly lower sales from its vaccine and COVID-19 treatment, Paxlovid, in the second quarter compared to the first. Plus Pfizer also expects a revenue boost later this year from new product launches …

Pfizer rides Paxlovid sales to better-than-expected quarter
2 years, 1 month ago

Pfizer rides Paxlovid sales to better-than-expected quarter

Associated Press  

Pfizer’s COVID-19 treatment helped the pharmaceutical giant balance tumbling international sales for its coronavirus vaccine and top third-quarter expectations. Pfizer executives said Tuesday that vaccine could hit the market late next year, depending on regulatory approvals, and could become another multi-billion dollar sales generator. Overall, Pfizer’s profit jumped 6% to $8.61 billion in the third quarter, and adjusted earnings totaled …

Pfizer in advanced talks to buy global blood therapeutics for about $5 billion
2 years, 4 months ago

Pfizer in advanced talks to buy global blood therapeutics for about $5 billion

Live Mint  

Pfizer Inc. is in advanced talks to buy Global Blood Therapeutics Inc., the maker of a recently approved drug for sickle-cell disease, for about $5 billion, in the latest move by the drug giant to bolster its portfolio and pipeline. They closed Friday up 33% at $63.84 after The Wall Street Journal reported on the talks with Pfizer, giving GBT …

Pfizer says its COVID pill doesn’t work for healthier patients
2 years, 6 months ago

Pfizer says its COVID pill doesn’t work for healthier patients

LA Times  

Pfizer says it will focus its efforts on studying its COVID drug, Paxlovid, in vulnerable populations, including people who are immunocompromised or already in the hospital. Pfizer Inc. plans to stop enrollment in a study of its COVID-19 drug in patients who aren’t at high risk of severe disease after the pill didn’t help alleviate their symptoms, a major setback …

Pfizer to offer low-cost medicines, vaccines to poor nations
2 years, 6 months ago

Pfizer to offer low-cost medicines, vaccines to poor nations

Associated Press  

Pfizer said Wednesday that it will provide nearly two dozen products, including its top-selling COVID-19 vaccine and treatment, at not-for-profit prices in some of the world’s poorest countries. The drugmaker announced the program at the World Economic Forum’s annual gathering in Davos, Switzerland, and said it was aimed at improving health equity in 45 lower-income countries. “What we discovered through …

Pfizer keeps 2022 COVID-19 vaccine, pill sales outlook unchanged
2 years, 7 months ago

Pfizer keeps 2022 COVID-19 vaccine, pill sales outlook unchanged

Al Jazeera  

Pfizer shares fluctuated early Tuesday and were little changed at 9:35am in New York. Pfizer Inc. kept its outlook for annual sales of its Covid-19 vaccine and treatment, disappointing investors who looked for the products to continue driving growth. Through mid-April, Pfizer said it has clinched $32 billion in 2022 contracts for the shot, Comirnaty, and $22 billion for its …

Pfizer’s COVID sales to top $50bn this year, investors want more
2 years, 10 months ago

Pfizer’s COVID sales to top $50bn this year, investors want more

Al Jazeera  

CEO Albert Bourla says final sales for COVID-19 antiviral Paxlovid could be “way bigger” than forecasts. Pfizer Inc said on Tuesday it expects 2022 sales of its COVID-19 vaccine and antiviral pill to top $54bn, but that fell short of lofty Wall Street estimates and its shares were off about 3 percent. Still, Chief Executive Albert Bourla said final sales …

Vaccines pushes Pfizer beyond expectations in final quarter
2 years, 10 months ago

Vaccines pushes Pfizer beyond expectations in final quarter

Associated Press  

COVID-19 vaccine sales boosted Pfizer earnings well past fourth-quarter expectations, but the drugmaker has set a lower-than-expected bar for 2022. Pfizer debuted on Tuesday annual forecasts for both earnings and revenue that fell short of analyst expectations even as the drugmaker expects another robust year of sales from its vaccine, Comirnaty, and its new coronavirus treatment, Paxlovid. Overall, Pfizer forecasts …

Pfizer’s posts $4.9B 1Q profit as vaccine strategy pays off
3 years, 7 months ago

Pfizer’s posts $4.9B 1Q profit as vaccine strategy pays off

Associated Press  

Selling vaccines during a pandemic has boosted Pfizer’s bottom line and proven that a strategy it embarked upon over a decade ago is now paying off handsomely. The New York-based pharmaceutical giant reported Tuesday that it earned $4.9 billion in the first three months of the year and it dramatically raised its profit forecast for all of 2021 thanks to …

Here is how much Pfizer will earn from selling Covid vaccine this year
3 years, 10 months ago

Here is how much Pfizer will earn from selling Covid vaccine this year

India Today  

Sales of the Covid-19 vaccine developed by Pfizer and BioNTech could reach up to $15 billion in 2021 and go higher if Pfizer signs additional supply contracts, Pfizer said Tuesday. The projections came as Pfizer projected full-year 2021 sales of between $59.4 billion and $61.4 billion, meaning that about one-fourth of estimated total sales will come from the Covid-19 vaccine. …

Pfizer tops Q3 earnings views, makes progress on COVID shot
4 years, 1 month ago

Pfizer tops Q3 earnings views, makes progress on COVID shot

Live Mint  

Drugmaker Pfizer saw its third-quarter profit plunge 71%, mainly due to an $8.1 billion gain a year earlier from selling its consumer health care business to a GlaxoSmithKline joint venture, but managed to top Wall Street expectations. Pfizer already has contracts with the United States, the European Union and about 10 countries to supply hundreds of millions of doses of …

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