Shares of Pfizer (PFE.N) and German partner BioNTech (22UAy.DE) fell on Monday after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week, and some analysts said the reduction was bigger than expectations.
A vial of Biontech-Pfizer's Comirnaty vaccine against COVID-19 and syringes are seen during vaccination at the Institute for Health and Food Safety of Zenica, Bosnia and Herzegovina, December 16, 2021. REUTERS/Dado Ruvic/File photofell on Monday after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week, and some analysts said the reduction was bigger than expectations.
The COVID sales forecast cut was bigger than expected, Wells Fargo analyst Mohit Bansal said, adding that Wall Street's COVID sales estimates for the next few years may come down.Shares in BioNTech, which is also developing cancer treatments, were down 6.7% at a two-month low in Frankfurt. Its U.S.-listed shares fell 6.8% in premarket trading, while Pfizer's shares fell 2%.
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