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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: