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 the treatment and vaccine had slid 97% and 70%, respectively, in the third quarter. Comirnaty and Paxlovid combined to rake in more than $56 billion in sales last year, easily making them Pfizer’s two top-selling products.

Treatment Billion Vaccine Wall Street Pfizer  covid19  expects  sales  market  treatment  governments  company  wall  pfizer  drugs  selling  sting  vaccine  revenue  continues  slid  switch  billion

History of this topic

Now Pfizer wants to start selling its Covid jab privately in chemists from next month after ministers announced 'slimmed down' roll-out
10 months, 2 weeks ago

Now Pfizer wants to start selling its Covid jab privately in chemists from next month after ministers announced 'slimmed down' roll-out

Daily Mail  

Brits will be able to buy private Pfizer Covid jabs from chemists as early as next month, if the drug giant gets its way. Pfizer has not yet revealed how much it will charge per dose, but pharmacists are already gearing up to start offering a rival jab for around £45. Chains will set their own prices, like with flu …

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 …

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 …

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 …

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 …

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 …

How Pfizer plans to sell its Covid vaccine back to YOU with a 10,000% markup
2 years, 1 month 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, 2 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, 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 …

COVID-19 vaccine sales push Moderna past expectations in Q2
2 years, 4 months ago

COVID-19 vaccine sales push Moderna past expectations in Q2

Associated Press  

Better-than-expected COVID-19 vaccine sales pushed Moderna past Wall Street’s second-quarter forecasts. Moderna shares surged Wednesday after the company also announced another $3 billion share buyback plan. Moderna’s vaccine sales in the second quarter represent a drop from the nearly $6 billion that the vaccine brought in during the year’s first quarter, when a virus surge through the United States pushed …

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 …

Insiders at covid-19 vaccine makers sold nearly $500 million of stock last year
3 years, 10 months ago

Insiders at covid-19 vaccine makers sold nearly $500 million of stock last year

Live Mint  

Executives and directors at Pfizer Inc., Moderna Inc. and other companies developing Covid-19 vaccines sold approximately $496 million of stock last year, reaping rewards of positive vaccine developments that drove up the value of the drugmakers’ shares. At Moderna, 17% of the dollar amount of the transactions, or about $56 million, was part of 10b5-1 trading plans established before 2020 …

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 CEO On Next Steps For Coronavirus Vaccine And His Controversial Stock Trade
4 years, 1 month ago

Pfizer CEO On Next Steps For Coronavirus Vaccine And His Controversial Stock Trade

NPR  

Pfizer CEO On Next Steps For Coronavirus Vaccine And His Controversial Stock Trade After announcing that its COVID-19 vaccine is 95% effective, pharmaceutical giant Pfizer is on the verge of filing with the Food and Drug Administration for emergency use authorization. Albert Bourla, the chairman and CEO of Pfizer, is calling it an important step in an historic eight-month journey …

Pfizer CEO Albert Bourla sold stock the day he announced promising vaccine news
4 years, 1 month ago

Pfizer CEO Albert Bourla sold stock the day he announced promising vaccine news

CNN  

New York CNN Business — Pfizer CEO Albert Bourla filed to sell millions of dollars of his company’s stock Monday – the day the pharmaceutical giant announced positive data about its coronavirus vaccine. A Pfizer spokeswoman said in an email to CNN Business that the sale took place because Pfizer shares hit a predetermined price as part of a plan …

Zoom shares drop after Pfizer's coronavirus vaccine announcement
4 years, 1 month ago

Zoom shares drop after Pfizer's coronavirus vaccine announcement

India Today  

Zoom, the video conferencing app with nearly 300 million daily users, witnessed a drop in share prices in the wake of Pfizer's announcement about its coronavirus vaccine candidate. After Pfizer's announcement on Monday, Zoom shares fell by 15 per cent in pre-market trading, according to a report by The Independent. The publication also reported that Zoom shares gained 635 per …

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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