Pfizer’s revenue drops over 50 per cent as Covid-19 vaccine sales wither

‘US drugmaker Pfizer today reported that revenue more than halved during the second quarter of the year as global demand for its Covid-19 vaccines plummeted.
It reported disappointing revenues of $12.7bn (£9.9bn) in the three months April to June – down 54 per cent, or $15bn, from the second quarter last year.’

www.cityam.com/pfizers-revenue-drops-over-50-per-cent-as-covid-19-vaccine-sales-wither/#:~:text=US%20drugmaker%20Pfizer%20today%20reported,the%20second%20quarter%20last%20year.

s28.q4cdn.com/781576035/files/doc_financials/2023/q2/Q2-2023-PFE-Earnings-Release.pdf

Pfizer reported second-quarter adjusted earnings that topped Wall Street’s expectations, but posted revenue that came in under estimates due to a steep drop in Covid product sales.

The New York-based company’s CFO said it is prepared to launch a cost-cutting program if Covid revenues are “less than what we assumed.”

Pfizer is in a transition period as it pivots away from its blockbuster coronavirus vaccine and Covid antiviral drug Paxlovid while the world emerges from the pandemic.
www.cnbc.com/2023/08/01/pfizer-pfe-q2-earnings-report-2023.html

h/t A Deplorable Neanderthal