The sharp revision to expected sales of Paxlovid, an oral antiviral drug, and the Covid-19 vaccine Comirnaty sent Pfizer’s stock tumbling. — Reuters picNEW YORK, Oct 14 — The US pharmaceutical giant Pfizer sharply scaled back its earnings outlook for the year, blaming lower-than-expected sales of two drugs used to treat Covid-19, the company said yesterday.It now “anticipates full-year 2023 revenues to be in the range of US$58.0 to US$61.0 billion , versus its previous guidance range of US$67.
“Full-year 2023 revenues for Paxlovid and Comirnaty are expected to be approximately US$12.5 billion, a decline of US$9.0 billion versus original expectations,” it added.