Pfizer Inc on Tuesday forecast a bigger-than-expected drop in sales of its COVID-19 vaccine and pill in 2023, intensifying investor concerns over demand for the products as governments reduce orders.
on Tuesday forecast a bigger-than-expected drop in sales of its COVID-19 vaccine and pill in 2023, intensifying investor concerns over demand for the products as governments reduce orders.
Pfizer's total annual sales crossed the $100 billion-mark for the first time in 2022, driven by the more than $56 billion in sales of the COVID-19 vaccine and Paxlovid antiviral. The U.S. drugmaker estimated annual sales of $13.5 billion from the vaccine, below Refinitiv estimates of $14.39 billion, and projected $8 billion in sales of Paxlovid, short of analysts' expectation of $10.33 billion.
Bourla said the company expects to start selling its vaccine Comirnaty through commercial channels in the United States in the second half of 2023, rather than selling the shots directly to the government.
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