Posted 12/13/2023, 12:52:42 PM
Pfizer Forecasts Lower 2024 COVID Vaccine & Treatment Sales Amid Waning Demand
- Pfizer forecasts lower-than-expected $8B in combined 2024 sales for COVID-19 vaccine and treatment, falling short of estimates
- Overall 2024 earnings and revenue outlook also misses consensus
- Weaker demand already forced Pfizer to cut 2023 projections in October
- CEO cites COVID fatigue, anti-vax rhetoric for conservative forecast, though expects products to remain significant
- Expanding cost-cutting program by $500M; no plans to cut dividend