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Pfizer Lifts Guidance on Non-Covid Growth as Paxlovid Slump Stings

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Source: Barron's
Pfizer Lifts Guidance on Non-Covid Growth as Paxlovid Slump Stings
Photo: Barron's
TL;DR

Pfizer beat expectations for Q2 earnings and revenue and raised its full-year guidance thanks to strength in non-Covid drugs, but Paxlovid revenue plunged about 95% and Comirnaty declined around 34%, prompting cost-cutting moves. BioNTech missed revenue targets, and Pfizer’s stock edged lower on the news.

Topics:business#biontech#business#earnings#paxlovid#pfizer#stock
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  1. Pfizer Covid Pill Revenue Plunges 95%. Why Earnings Are Lifting the Stock Anyway.  Barron's
  2. Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs  CNBC
  3. Pfizer’s Quarterly Results Beat Expectations on Cancer, Heart Drugs  WSJ
  4. Pfizer beats earnings estimates, targets $2.5 billion in additional cost cuts  Reuters
  5. Pfizer Raises Sales Guidance on High Demand for Older Drugs  Bloomberg.com

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