Drugmaker looks to flurry of new products to drive growth as COVID sales drop
Pfizer Inc. on Tuesday swung to a wider-than-expected third-quarter loss amid weakness in COVID products but affirmed its recently reduced full-year outlook.
The company affirmed its 2023 outlook for adjusted earnings per share of $1.45 to $1.65 and for revenue of $58 billion to $61 billion. “With a significant uncertainty removed by our recently announced amended Paxlovid supply agreement with the U.S.
Pfizer’s newly launched vaccine for respiratory syncytial virus, Abrysvo, generated $375 million in sales in the third quarter. The migraine treatment Nurtec ODT/Vydura and the sickle-cell-disease treatment Oxbryta, both acquired late last year, together contributed $318 million in global sales, Pfizer said.
Pfizer’s acquisition of Seagen Inc. SGEN, -0.07% is still expected to close later this year or early next year, according to Bourla’s prepared remarks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pfizer swings to quarterly loss due to COVID products write-offPfizer (PFE.N) on Tuesday reported its first quarterly loss since 2019, as the U.S. drugmaker recorded $5.6 billion in charges related to its COVID products such as its antiviral treatment Paxlovid and vaccine Comirnaty.
Read more »
Pfizer swings to quarterly loss due to Paxlovid, Covid vaccine write-offsThe results come two weeks after Pfizer slashed its full-year adjusted earnings and revenue guidance and launched a sweeping $3.5 billion cost-cutting plan.
Read more »
Pfizer swings to quarterly loss due to Paxlovid, Covid vaccine write-offsThe results come two weeks after Pfizer slashed its full-year adjusted earnings and revenue guidance and launched a sweeping $3.5 billion cost-cutting plan.
Read more »
A continuing decline in sales of COVID-19 products clips revenue at PfizerPfizer losses were not as great as expected in the third quarter, but a continued decline in sales of its COVID-19 products clipped revenue. Pfizer reported a $2.38 billion quarterly loss Tuesday, or 42 cents per share.
Read more »
Pfizer posts narrower Q3 loss amid slumping Covid vaccine salesPfizer, which warned of a $5.5 billion writedown of its Covid treatment inventories earlier this month, posted a narrower-than-expected third quarter loss Tuesday.
Read more »
Pfizer swings to loss as COVID product demand slump sparks chargesPfizer swings to loss as COVID product demand slump sparks charges
Read more »