Tuesday, March 28, 2023

Pfizer expects weaker corona business

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After a record year

Pfizer expects weaker corona business

Pfizer made a lot of money from the pandemic last year. For the US pharmaceutical company, it was a record year in every respect thanks to the high sales figures of its vaccine and its corona drug Paxlovid.

Pfizer expects weaker business with corona vaccines for 2023 (symbol image)

However, the falling number of corona cases is likely to have a negative impact on the business of the US pharmaceutical company in 2023. According to company information from Tuesday, at the beginning of the year, many countries still had enough vaccines and medicines. Pfizer is therefore preparing for a significant drop in sales and profits.

Pfizer therefore expects sales of 67 to 71 billion US dollars this year. In 2022, the group had earned a good 100 billion dollars (around 92.2 billion euros), 23 percent more than a year earlier. Bottom line, profits rose 43 percent to $31.3 billion. Adjusted earnings per share (EPS) rose 62 percent to $6.58. For 2023, Pfizer is only aiming for a value in the range of 3.25 to 3.45 dollars for this indicator.

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