Connect with us

Health

Pfizer Stock Will Be Passed By Me In 2024. Here Are The Reasons.

Published

on

Pfizer Stock Will Be Passed By Me In 2024. Here Are The Reasons.

(CTN News) – During the peak of the COVID-19 pandemic, pharmaceutical giant Pfizer (NYSE: PFE) was one of the most significant companies.

Post-pandemic world was paved by the company’s breakthrough vaccine. Demand for COVID-19 treatments has contributed to record-breaking revenue over the past few years.

Pfizer’s next growth engine, however, may be in doubt as pandemic concerns recede. Despite the company’s identification of several catalysts, I have my doubts about their prospects. It’s not just me. At just $29 per share, Pfizer shares are at their lowest levels in ten years.

Considering current state, let’s examine whether it’s a good time to buy the dip or to move on and seek growth elsewhere.

COVID-19 medications aren’t in high demand

There are two COVID-19-related treatments offered by Pfizer: Comirnaty and Paxlovid. Pfizer reported $100.3 billion in revenue in 2022 — a 23% increase over 2021 and a record for the company.

Given that revenue essentially doubled between 2020 and 2021, this momentum isn’t surprising. This growth can be largely attributed to the company’s blockbuster COVID-19 medications, which accounted for 57% of total sales in 2022.

It may come as a surprise, however, to learn of the precipitous decline in revenue streams from COVID-19. In third-quarter results, ended Sept. 30, revenue from Comirnaty and Paxlovid decreased 70% and 97%, respectively.

It’s understandable that COVID-19 has subsided from its peak. I’m still a little worried about business as a result of these declines. Pfizer earned $0.97 per share in 2023, down 79% from last year.

SEE ALSO:

White Blood Cells And Breast Cancer: A Paradox Decoded

Continue Reading

CTN News App

CTN News App

české casino

Recent News

BUY FC 24 COINS

compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies