[stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width"100%" palette="financial-light"]

Pfizer Crashes After Slashing Profit Guidance By More Than Half On Collapsing Demand For Covid Meds

By CDM Staff

October 14, 2023

No Comments

Pfizer Crashes After Slashing Profit Guidance By More Than Half On Collapsing Demand For Covid Meds — *Image by János Korom Dr.*

Please Follow us on Gab, Minds, Telegram, Rumble, GETTR, Truth Social, Twitter

Pfizer just lobbed a legendary Friday evening bomb when it slashed its revenue and earnings forecasts for the year as it agreed to take returns from the US of its Covid antiviral Paxlovid amid collapsing demand.

Waiting patiently until after the market closed on Friday, the company said it now sees 2023 revenue of only $58 billion to $61 billion, down $9 billion from its previous estimate of $67 billion to $70 billion.

The drugmaker said adjusted EPS are now expected to be between $1.45 a share and $1.65 a share, down by more than half from its previous earnings forecast of $3.25 a share to $3.45 a share...

To read more visit Zero Hedge.

‘NO AD’ subscription for CDM! Sign up here and support real investigative journalism and help save the republic!‘

SHARE THIS ARTICLE

Covid vaccines LH Pfizer

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."