Pfizer Slashes FY Guidance By $9 Billion

Pfizer is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Pfizer said Friday it is cutting its guidance for the year by $9 billion due to changes in expected sales of its Covid-19 vaccine and treatment Paxlovid. Pfizer lowered its guidance to between $58 billion and $61 billion from between $67 billion and $70 billion. The company is slashing its guidance for Paxlovid by $7 billion and the vaccine by roughly $2 billion. Pfizer previously said it expected $8 billion in Paxlovid sales this year and $13.5 billion from the vaccine.

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