Pfizer

Pfizer Backs 2023 Non-Covid Product Operational Revenue Up 6%-8%.

Pfizer Inc Says FY23 Revenues For Paxlovid And Comirnaty Are Expected To Be ~$12.5B.

Pfizer (PFE) on Friday lowered its 2023 earnings and revenue forecasts to account for changes in its supply agreement for Paxlovid with the US government. The revenue guidance was lowered to $58 billion to $61 billion from $67 billion to $70 billion previously, and full-year adjusted earnings per share are expected at $1.45 to $1.65 compared to $3.25 to $3.45 previously, the company said. Paxlovid is an oral COVID-19 medicine that was granted emergency use authorization by the US Food and Drug Administration in 2021 and a full nod in May 2023. In a change announced Friday, the US government is returning an estimated 7.9 million treatment courses of the emergency use authorized-labeled Paxlovid which will result in a non-cash revenue reversal of $4.2 billion, the company said. The lowering of the financial guidance reflects those changes, as well as a delay in the commercialization of Paxlovid to January from

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.

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.

Pfizer has won expanded approval from the U.S. Food and Drug Administration of the combination of its Braftovi and Mektovi drugs for patients with metastatic non-small cell lung cancer with a BRAF V600E mutation. The New York drugmaker on Thursday said the approval gives adults with BRAF V600E-mutant metastatic non-small cell lung cancer a new personalized treatment option. Lung cancer is the leading cause of cancer death around the world, with non-small cell lung cancer accounting for more than 80%. A BRAF V600E mutation occurs in roughly 2% of non-small cell lung cancer cases, Pfizer said. The Braftovi/Mektovi combination was previously approved in the U.S. for patients with unresectable or metastatic melanoma with a BRAF V600E or V600K mutation. Braftovi is also approved in combination with cetuximab for adults with metastatic colorectal cancer with a BRAF V600E mutation after prior therapy. Pfizer picked up Braftovi and Mektovi as part of

Pfizer Says Impact Of Tornado On Site Is Expected To Affect Supply Of Medicines From Rocky Mount Facility Until At Least Mid-2024; Begun Storing Non-Production Related Materials In A New Warehouse Secured As A Temporary Replacement To Its Hirise Warehouse

Pfizer (NYSE:PFE) Revises FY23 Revenue Guidance To $67B-$70B Vs. Consensus Of $61.01B And Prior Guidance Of $67B-$71B; Adjusts 2023 Non-COVID Operational Revenue Growth Expectation to 6%-8%.

Pfizer (NYSE:PFE) Q2 Revenue $12.734 Bln Vs. $27.742 Bln a Year Ago; FactSet Consensus $13.363 Bln。