Pfizer slashes full-year earnings and revenue guidance as Covid treatment, vaccine sales slump
Publishing timestamp: 2023-10-13 17:47:45
Summary
Pfizer has lowered its full-year earnings and revenue guidance due to a decrease in demand for its Covid treatment and vaccine. The company expects lower sales for its Covid products, including the Paxlovid treatment and the Comirnaty vaccine, due to factors such as the return of emergency use doses and lower vaccination rates. The rollout of Pfizer's latest Covid booster has also faced challenges. As a result, Pfizer's shares fell more than 3% in extended trading.
Sentiment: NEGATIVE
Tickers: PFE,
Keywords: pfizer inc, business news, business, earnings, breaking news: business, health care industry, pharmaceuticals, biotech and pharmaceuticals,
Source: https://www.cnbc.com/2023/10/13/pfizer-cuts-earnings-revenue-guidance-as-covid-sales-slump.html