CNBC January 31, 2023
Key Points
– Pfizer sold $37.8 billion of its Covid vaccine last year, a small increase of 3% compared with 2021 as demand for the shots slowed.
– Sales of Paxlovid, however, surged to $18.9 billion in 2022, which was the first full year the antiviral pill was available.
– Pfizer expects its revenue to decline in 2023 by as much as 33% to a range of $67 billion to $71 billion as the world emerges from the pandemic and demand for its blockbuster Covid drugs slows.
The ongoing Covid-19 pandemic propelled pharmaceutical company Pfizer’s earnings to a record $100 billion last year, almost $57 billion of which was driven by its vaccine and antiviral pill Paxlovid, the company reported...