Pfizer CEO Says Revised Paxlovid Contract Will Help Remove Covid-19 Uncertainty

Pfizer Chief Executive Albert Bourla expects the revised government contract for Paxlovid will help the pharmaceutical giant adjust to demand for Covid-19 products. Pfizer has seen slumping revenues from its Covid-19 vaccines and treatments, but the company’s new agreement with the government to take back unused Paxlovid courses will allow Pfizer to better predict demand, Bourla says. The revised deal will see Pfizer reverse a sizable chunk of revenue but will allow the company to quickly pivot to a commercial rollout of Paxlovid. Bourla says the company will now be able to better predict vaccine and treatment utilization going forward.

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