Posted on 01/31/2023 9:43:57 AM PST by SeekAndFind
Pfizer Inc shares slid as much as 3.5% in premarket trading (before bouncing back) after the company forecasted COVID-19 vaccine sales for 2023 would miss the average Wall Street estimate by more than $2.5 billion.
The New York-based drug company expects Covid vaccine sales this year to be around $13.5 billion, below analysts' $16 billion forecast. Sales for its Covid pill Paxlovid were forecasted at about $8 billion, below the $9.2 billion expected by analysts.
Pfizer expects revenue for Covid-19 vaccines and pills to slide this year because of large government stockpiles but might see an increase in sales in 2024.
Revenue might fall even more this year as Americans appear to be pushing back on getting booster after booster.
Pfizer projects revenue this year to be between $67 billion and $71 billion after skyrocketing 23% to $100 billion in 2022.
For the fourth quarter, revenue was up by 2% to $24.29 billion, supported by the growth in the primary care business as Covid vaccine demand slumped.
Pfizer shares dropped as much as 3.5% in premarket trading. Shares are down 12.5% since topping around $54.70 in December.
But, as things tend to do, Pfizer shares were panic-bid back into the green as the cash market opened...
Analysts have been concerned about Covid vaccine demand woes this year, leading Wells Fargo's Mohit Bansal to downgrade the company from a buy in mid-January to equal weight. Bansal was concerned about near-term earnings risk due to falling demand for Covid products.
UBS analyst Colin Bristow cut Pfizer to neutral from buy, reiterating Bansal's point about slumping demand for Covid products and a product pipeline that's "not quite ready for prime time."
There are currently nine buys and 15 holds, though no sells on Pfizer by analysts. Their average 12-month target is around $53.44.
What's clear in this quarterly report is that Americans are pushing back against taking their gene therapy drug that government officials, big pharma, mainstream media, celebrities, and anyone else pushed so hard over the last few years.
But why is vaxx demand falling…because you can’t fool all the people all of the time?…
They’ll just push mRNA into other vaccines.
Be a pity if the company suddenly died.
RE: Be a pity if the company suddenly died.
I don’t care, as long as their Viagra product is taken over by another. :)
Hopefully they go bankrupt along with Moderna.
Time to whip up a new disease for Pfizer to treat.
The Demand and sales of the Jab should be zero
Slide?
At this point, I doubt that you can find a doctor who’s actually suggesting a Covid vaccination... Over 10,000 adverse reactions in Canada, with over 400 deaths. There were about 40,000 Covid deaths in Canada... 70%+ of those deaths were people over the age 80. So 10,000 plus otherwise healthy people most of them under the age of 80, suffered from adverse reactions from a vaccine that they didn’t really need, and didn’t really work.
That’s an astounding result.
“They’ll just push mRNA into other vaccines.”
Yup, I have taken my last vaccine of any kind. I didn’t get the COVID poison shot and will never again allow a nurse to put a needle in my arm for any reason.
They can’t be trusted anymore.
I won’t be getting it even if they mix it with a flu shot and tell me that’s good for me. Even if they say I have to get it once a year.
Who would buy anything from them ever again?
Sure it’s not the project veritas expose on them?
Eggs.
Hey Congress how about an investigation into this vaxx scam ?
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