Pfizer Already Expected Lower Paxlovid Revenues Before Slashing Guidance

Pfizer was already expecting lower revenues from Paxlovid before the company amended its agreement with the U.S. government. The pharmaceutical company says it expects $7 billion less in revenue from Paxlovid for 2023 compared with prior guidance as it accepts unused doses of the anti-viral pill from the government and reverses associated revenues. The company was already forecasting Paxlovid revenues to drop 58% in 2023 to $8 billion, part of a broader slowdown in its Covid-19 business.

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