Pfizer headquarters in New York.Photographer: Stephanie Keith/Bloomberg Pfizer Inc. ’s 2023 forecasts fell short of analysts’ expectations on precipitously declining demand for its blockbuster Covid vaccines and Paxlovid treatment. The company is predicting 2023 adjusted earnings between $3.25 and $3.45 a share, well below analysts average estimate of $4.31 a share. Revenue for the year will be in the range of $67 billion to $71 billion, Pfizer said in a statement . Analysts had expected $71.7 billion. Pfizer’s Covid-19 vaccine Comirnaty and virus pill Paxlovid have been transformative for the company, contributing more than half of the company’s $100 billion in sales last year. The company has been messaging for months that it wouldn’t be able to keep the pace, sharing forecasts for growth outside of Covid. Still, the downturn in its Covid business was more stark than analysts had been expecting, putting pressure on the drugmaker to show other avenues for growth. For 2023, Pfizer said it expects sales of around $13.5 billion for Comirnaty, down 64% from the year before and below the $16 billion forecast by analysts. Its 2023 sales guidance for its Covid pill Paxlovid was $8 billion, down 58% from the year prior and […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
