The results cap off a critical year for Pfizer, which has been slashing costs as it recovers from the rapid decline of its Covid business and stock price.
Pfizer on Tuesday reported fourth-quarter earnings and revenue that beat estimates as sales of the company's Covid products topped expectations and its broad cost-cutting efforts took hold.
Pfizer reported revenue of $17.76 billion for the fourth quarter, up 22% from the same period a year ago. Paxlovid, its antiviral pill, brought in $727 million in sales for the quarter, up from the loss of $3.1 billion in revenue recorded in the year-earlier period. But the same quarter last year included a revenue reversal tied to the planned return of
Those drugs brought in $915 million in revenue for the quarter, compared with just $132 million in sales in the fourth quarter of 2023.
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