Pfizer shares fall as 2024 revenue and profit forecast disappoints
Publishing timestamp: 2023-12-13 10:20:06
Summary
Pfizer's shares fell after the company forecasted 2024 revenue and profit below Wall Street's expectations. The weak demand for its Covid vaccine and treatment Paxlovid contributed to the decline. Pfizer also raised the target of its cost-cutting plan and expects revenue next year to potentially fall or remain flat compared to 2023. The company's stock has fallen more than 40% this year.
Sentiment: NEGATIVE
Tickers: BMY, SGEN, MRK, ABBV, BNTX, MRNA, PFE,
Keywords: breaking news, bristol-myers squibb co, earnings, biotech and pharmaceuticals, abbvie inc, united states, business news, pfizer inc, moderna inc, seagen inc, business, merck & co inc, biontech se, health care industry, pharmaceuticals,
Source: https://www.cnbc.com/2023/12/13/pfizer-forecasts-2024-revenue-below-wall-street-expectations.html