Connect with us


Pfizer Faces More Than Just COVID Revenue Declines

Avatar of Salman Ahmad



Pfizer Faces More Than Just COVID Revenue Declines

(CTN News) – In just a few years, Pfizer (NYSE: PFE) has undergone a great deal of change. The COVID-19 vaccine maker’s shares were trading at around $60 at the end of 2021, and things were looking good for it. By 2022, the company would have generated more than $100 billion in revenues.

In today’s market, however, the stock is trading below $30 per share. As investors fret over the future of the company, what was once excitement and hype has now been replaced with fear and anxiety.

It is unlikely that COVID-19 products will generate as much revenue as they did in 2022. However, Pfizer faces even greater difficulties. I will explain why.

In the fourth quarter, Pfizer’s sales fell by 41%

Pfizer reported its quarterly results for the last three months of 2023 on Jan. 30, and they were not good. In terms of revenue, the company earned $14.2 billion, down by over 41% from last year. It also reported a net loss of $3.4 billion, largely due to a revenue reversal related to Paxlovid, its COVID drug.

It seems that Pfizer’s top products are not generating much growth

Many investors are aware of Pfizer’s struggles with its COVID products; however, the company’s struggles extend beyond that. Last quarter, its oncology business declined by 3%, and specialty care sales increased by only 11%.

The following is a breakdown of the company’s non-COVID products that generated over $1 billion in revenue last quarter:

Eliquis, an anticoagulant medication, was the only product to generate year-over-year growth of more than $1 billion in sales.

The company’s Vyndaqel brand (which treats transthyretin amyloidosis, a protein disorder) came close to meeting the goal, with revenues of $961 million rising by 41%, but generally, Pfizer’s top products have not achieved strong results.


Thailand’s Recreational Cannabis May Need Doctors Approval

Bed Bug Bites Treatment: Learn how to Get rid of itchy Bed Bug Bites Fast

Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

Continue Reading

CTN News App

CTN News App

Recent News


compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies