Pfizer Lifts Guidance on Non-Covid Growth as Paxlovid Slump Stings
TL;DR Summary
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.
- Pfizer Covid Pill Revenue Plunges 95%. Why Earnings Are Lifting the Stock Anyway. Barron's
- Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs CNBC
- Pfizer’s Quarterly Results Beat Expectations on Cancer, Heart Drugs WSJ
- Pfizer beats earnings estimates, targets $2.5 billion in additional cost cuts Reuters
- Pfizer Raises Sales Guidance on High Demand for Older Drugs Bloomberg.com
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