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Pfizer reduces its benefits by 77% to 2,119 million due to the end of the pandemic

Date: May 29, 2024 Time: 17:57:29

Blow for the American laboratory Pfizer. The company has fallen in its results for the last quarter of the year due to the end of the coronavirus pandemic, as indicated by the company in its presentation. Thus, it closed the second quarter with an attributed net profit of 2,327 million dollars; that is, about 2,119 million euros, 77% less than in the same period of 2022.

The turnover also fell by 54% to 12,734 million (11,598 million euros) between April and June. In this way, the pharmaceutical company closed the first half of the year with an attributed net profit of 7,870 million dollars (7,168 million euros) and a year-on-year drop of 56%.

In turn, billing decreased by 42% compared to the first six months of 2022, remaining at 31,015 million (28,250 million dollars). Specifically, the revenue from the company’s Covid-19 products registered a year-on-year drop of 64% in the case of Comirnaty and 58% for Paxlovid, contributing 13,500 million euros (12,296 million euros) to the brand and 8,000 million (7,286 million euros), respectively.

This drop has accounted for 53% of the decrease in Pfizer’s operating result, according to the company itself. The CEO of the multinational has stated that it has made significant progress in its goal of launching 19 new products in a period of 18 months.

In addition, the manager has commented that they expect solid operating growth for 2025 and that they already have “several interesting candidates” to become future “value drivers”.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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