pronounced decline of COVID-19 vaccine sales. The big pharma company -- which had over the last year reported a string of weak earnings reports with the precipitous decline of COVID vaccines -- pointed to the gains…lifted its full-year profit forecast Tuesday following solid results that showed progress in pivoting its business amid the pronounced decline of
Profits in the second quarter were a scant $41 million, much below the year-ago level and reflecting a roughly $1.3 billion hit in one-time restructuring costs.Revenues from Pfizer’s Covid-19 vaccine tumbled 87 percent from the year-ago level, but revenues for Covid-19 therapeutic Paxlovid rose 79 percent to $251 million.Besides the Seagen assets, Pfizer cited as sources of revenue growth the heart disease drug Vyndaqel, blood clot medication Eliquis and the migraine pharmaceutical Vydura.
The Federal Government, yesterday, expressed concerns over Nigeria’s fish import bill, stressing that initiatives, including locally-designed technologies, storage facilities as well as the inclusion of women and youths in production, are underway to increase local capacity. The country’s imported food inflation jumped to 36.38 per cent in June 2024, from 34.83 per cent in the previous month, representing a 1.55 percentage point increase.From about $800 million in funding raised in the first half of 2024, startups funding hit the $1 billion mark in July.