“Pfizer Reports 28.7% Revenue Drop in Q1 2023 Amid Decreased ‘Comirnaty’ Sales”

MADRID, 2 (EUROPA PRESS)

The multinational saw its revenue fall by 28.7% between January and March, to 18,282 million dollars (16,629 million euros), including a 77% drop in revenue from the sales of ‘Comirnaty’, the vaccine against COVID -19, up to 3,064 million dollars (2,787 million euros), while Paxlovid, the oral treatment against the disease, reported income of 4,069 million dollars (3,701 million euros), 177% more.

For the year as a whole, the multinational expects to reach a net turnover of between 67,000 and 71,000 million dollars (60,943 and 64,581 million euros), which would mean a drop of between 33% and 29% compared to the revenue recorded in 2022.

Specifically, Pfizer expects that the income from the sale of ‘Comirnaty’ will decrease this year by 64%, to about 13,500 million dollars (12,280 million euros), while those of ‘Paxlovid’ will be around 8,000 million dollars (7,277 million euros), 58% less.

“Our first quarter results were in line with our expectations, underscoring our continued confidence in achieving operating revenue growth of 7% to 9% for fiscal 2023, excluding our Covid-19 products and anticipated currency impacts. “said David Denton, Pfizer’s chief financial officer.

“We expect most of this growth to occur in the second half of 2023, given the timing of our expected near-term launches,” he added.