Pfizer cuts full-year outlook due to declining sales of Covid-19-related products
1 year, 2 months ago

Pfizer cuts full-year outlook due to declining sales of Covid-19-related products

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy 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 in less than expected and cut revenue expectations for the year by $9 billion. Pfizer is also lowering its 2023 revenue expectations for Comirnaty by approximately $2 billion due to lower-than-expected vaccination rates. That is short of the full-year revenue of $63.61 billion and earnings of $2.77 per share that Wall Street was expecting, and far short of the company's previous projections of per-share earning between $3.25 and $3.45. JPMorgan said the company's update solves an ongoing U.S. Paxlovid inventory debate and it anticipates the company's bigger-than-expected cuts to its sales projections will help put a floor under per-share earnings expectations for next year.

Revenue Billion Pfizer Paxlovid  products  outlook  companys  pfizer  covid19related  sign  fullyear  sales  expectations  paxlovid  revenue  vaccination  breaking  declining  cuts  billion

History of this topic

Pfizer reports $11.4 billion profit in Dutch operations despite post-pandemic decline
3 weeks, 6 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
11 months, 1 week 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 …

Pfizer to cut 500 jobs at UK factory as demand for Covid jab slumps
1 year, 1 month ago

Pfizer to cut 500 jobs at UK factory as demand for Covid jab slumps

The Telegraph  

Pfizer has unveiled plans to cut 500 jobs at its laboratories in Kent as it races to strip $3.5bn worth of costs out in the face of falling demand for its Covid drugs. It said the move to stop PSSM work at the site came as part of efforts to cut costs across its business, having in October announced a …

A continuing decline in sales of COVID-19 products clips revenue at Pfizer
1 year, 2 months 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 …

COVID-19 treatments to enter the market with a hefty price tag
1 year, 2 months 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 more than doubles price of lifesaving Covid-19 medication Paxlovid as US transitions out of pandemic phase
1 year, 2 months ago

Pfizer more than doubles price of lifesaving Covid-19 medication Paxlovid as US transitions out of pandemic phase

CNN  

CNN — The price of the lifesaving Covid-19 antiviral medication Paxlovid will more than double as the United States transitions out of the emergency phase of the pandemic, drugmaker Pfizer said Wednesday. Pfizer noted that the list price “does not necessarily reflect the price a patient will pay” and said it’s working to secure health insurance arrangements that would come …

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 Q1 Results: Net profit jumps multi-fold to ₹93.5 crore
1 year, 4 months ago

Pfizer Q1 Results: Net profit jumps multi-fold to ₹93.5 crore

Live Mint  

Pfizer Limited released its Q1 results on Friday and posted a multi-fold year-on-year jump in its net profit which touched ₹93.5 crore during the quarter ending June 2023. Sequentially, the company's net profit plunged 27% quarter-on-quarter as it stood at ₹129.6 crore during the quarter ending March 2023. Recall of some products Pfizer said that during the April -June quarter, …

Pfizer 2Q numbers tumble and COVID-19 vaccine, treatment sales dry up
1 year, 5 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, 8 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 will spend $43 billion to acquire Seagen
1 year, 9 months ago

Pfizer will spend $43 billion to acquire Seagen

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Together, Pfizer and Seagen seek to accelerate the next …

Column: Moderna and Pfizer are jacking up the price of COVID vaccines. The government should stop them
1 year, 11 months ago

Column: Moderna and Pfizer are jacking up the price of COVID vaccines. The government should stop them

LA Times  

Doses of the Moderna COVID-19 vaccine wait to be administered at a clinic. That included a research grant of almost $1 billion from the government’s Biomedical Advanced Research and Development Authority, or BARDA, through 2020, plus a $1.5-billion federal purchase guarantee in 2020 for COVID vaccines before testing was even completed — a deal that materially reduced Moderna’s financial risks …

Senators accuse Pfizer of 'pure and deadly greed' over plan to quadruple cost of Covid shot
2 years ago

Senators accuse Pfizer of 'pure and deadly greed' over plan to quadruple cost of Covid shot

Daily Mail  

Democrats have attacked Pfizer over its plan to quadruple the price of its Covid shot next year — describing the firm of 'pure and deadly greed'. How much revenue does Pfizer estimate it would earn from the COVID vaccine in 2023 if it does not increase the vaccine’s price? How much revenue does Pfizer estimate it will earn from the …

Pfizer chief boasts Covid pandemic will be 'multi-billion dollar franchise' for years to come
2 years, 2 months ago

Pfizer chief boasts Covid pandemic will be 'multi-billion dollar franchise' for years to come

Daily Mail  

Pfizer’s chief financial officer has described the Covid pandemic as a 'multi-billion dollar franchise' — and expects profit to continue. The mRNA vaccine, developed with Germany-based BioNTech, will soon become pricier for people without health insurance as government contracts that made the shots free for all Americans are slated to expire Pfizer has raked in $100 billion from selling Covid-19 …

Pfizer rides Paxlovid sales to better-than-expected quarter
2 years, 2 months 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 …

How Pfizer plans to sell its Covid vaccine back to YOU with a 10,000% markup
2 years, 2 months ago

How Pfizer plans to sell its Covid vaccine back to YOU with a 10,000% markup

Daily Mail  

Pfizer has been accused of 'daylight robbery' after it emerged the company plans to sell its Covid shot with an estimated 10,000 percent markup in the US next year — despite enjoying extraordinary surges in profits during the pandemic. Dr Ugur Sahin, the brains behind the Covid shot and CEO of Pfizer's German partner BioNTech, is among nine 'vaccine billionaires' …

Husband and wife team behind Pfizer-BioNTech COVID shot insist pandemic ISN'T over
2 years, 3 months ago

Husband and wife team behind Pfizer-BioNTech COVID shot insist pandemic ISN'T over

Daily Mail  

The husband-and-wife duo behind BioNTech, the German firm that joined Pfizer to manufacture the COVID-19 vaccine, have unveiled plans for yet another new virus shot while warning that COVID isn't even close to being over. Dr. Ugur Sahin and Dr. Ozlem Tureci founded BioNTech in 2008 and count the Bill and Melinda Gates Foundation as one of their major investors …

Pfizer in advanced talks to buy global blood therapeutics for about $5 billion
2 years, 5 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, 7 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, 8 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 …

Why Pfizer needs so much time to make its COVID-19 tablets
2 years, 10 months ago

Why Pfizer needs so much time to make its COVID-19 tablets

LA Times  

Pfizer’s new COVID-19 treatment came with a catch when it debuted late last year: Supplies were limited, and it can take months to make the tablets. Pfizer Chief Global Supply Officer Mike McDermott says there is “an ample amount” of Paxlovid available for high-risk patients who need it. Dr. Raymund Razonable of the Mayo Clinic said Paxlovid supplies would have …

Pfizer’s COVID sales to top $50bn this year, investors want more
2 years, 11 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, 11 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 Reckless Policy on Allocation & Pricing of COVID-19 Vaccine Endangers the World
3 years, 7 months ago

Pfizer’s Reckless Policy on Allocation & Pricing of COVID-19 Vaccine Endangers the World

News 18  

Pandemics, like wildfires, need to be extinguished quickly, otherwise they spiral out of control. Pfizer’s policies in regard to the allocation and pricing of its COVID-19 vaccine have brought the developing world to the brink of an enormous humanitarian catastrophe and has exposed rich countries to serious risks in the time to come. Recognising this, the World Health Organisation, in …

Pfizer’s posts $4.9B 1Q profit as vaccine strategy pays off
3 years, 8 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, 11 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. …

Column: Pfizer, Moderna expect billions in profits from COVID vaccines. That’s a scandal
4 years ago

Column: Pfizer, Moderna expect billions in profits from COVID vaccines. That’s a scandal

LA Times  

Boxes containing the Moderna COVID-19 vaccine are prepared to be shipped at a Mississippi depot. Moderna’s announcement to not enforce patents during the pandemic might be enough to get good press, but it isn’t enough to make sure people will have access to this vaccine at an affordable price. Doctors Without Borders, for example, called on Moderna and other drug …

Pfizer says COVID-19 vaccine is looking 90% effective
4 years, 2 months ago

Pfizer says COVID-19 vaccine is looking 90% effective

Associated Press  

Pfizer Inc. said Monday that its COVID-19 vaccine may be a remarkable 90% effective, based on early and incomplete test results that nevertheless brought a big burst of optimism to a world desperate for the means to finally bring the catastrophic outbreak under control. Dr. Anthony Fauci, the U.S. government’s top infectious-disease expert, said the results suggesting 90% effectiveness are …

Pfizer tops Q3 earnings views, makes progress on COVID shot
4 years, 2 months 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 …

U.S. To Get 100 Million Doses of Pfizer Coronavirus Vaccine In $1.95 Billion Deal
4 years, 5 months ago

U.S. To Get 100 Million Doses of Pfizer Coronavirus Vaccine In $1.95 Billion Deal

NPR  

U.S. To Get 100 Million Doses of Pfizer Coronavirus Vaccine In $1.95 Billion Deal Enlarge this image toggle caption Jeenah Moon/Bloomberg via Getty Images Jeenah Moon/Bloomberg via Getty Images The federal government has reached a $1.95 billion deal with Pfizer to acquire 100 million doses of its vaccine candidate against the coronavirus if the Food and Drug Administration OKs it. …

Pfizer fourth quarter net rises 4.74% to Rs 109 cr, revenue from operations at Rs 536 cr; shares up
5 years, 7 months ago

Pfizer fourth quarter net rises 4.74% to Rs 109 cr, revenue from operations at Rs 536 cr; shares up

Firstpost  

Pfizer said its board has recommended a dividend of Rs 22.50 per equity share of Rs 10 each for the year ended 31 March, 2019. New Delhi: Pharma firm Pfizer on Tuesday reported a 4.74 percent rise in net profit to Rs 109.47 crore for the quarter ended 31 March, 2019. The company had posted a net profit of Rs …

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