Free Republic

Shares of vaccine makers moved lower Monday after Pfizer's finance chief predicted weaker demand for Covid shots this year. Pfizer CFO David Denton said his company projects a roughly 24% Covid vaccination rate in the U.S. this year. "Keep in mind the flu is probably closer to a 50% vaccination rate, so we haircut that pretty significantly for the year," Denton said at a JPMorgan conference.

Pfizer has lost $88billion in market share and $144billion in value since its market peak in just one year as the drugmaker suffers a major hangover from the success of its COVID vaccine. The pharmaceutical giant enjoyed a record $100billion in sales last year, powered by its COVID vaccine and drug. But after becoming the first pharma firm to break the billion-dollar barrier, its performance has fallen off a cliff this year. The company’s role in alleviating the worst of the pandemic has meant it has become a victim of its own success, as demand for its COVID products dwindles...

Wall Street investors are dumping their Moderna and Pfizer stock faster than the world can drop the mandates. Moderna is down 70 percent from its high, while Pfizer is off 19 percent. Former Blackrock Executive and investment adviser Edward Dowd calls for Moderna to go to zero and Pfizer to end under ten dollars per share.How is this possible given that Pfizer now enjoys record earnings per share and a market capitalization of some $270 billion, making it the 29th largest corporation globally? With nothing but profits in sight for the Pharmaceutical giant, what could be the problem?After all, in...

New York (CNN Business): Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine. The company reported adjusted earnings of $7.7 billion, up 133% from a year earlier. Revenue soared to $24.1 billion, up 134%. Both easily cleared results forecast by analysts. The vaccine business alone was responsible for more than 60% of the company's sales, as vaccine revenue rose to $14.6 billion from only $1.7 billion a year earlier. The company said its Covid vaccine sales accounted for $13 billion...