Biotech Values

[WorstLuck]

Kind of surprised that no one has commented on PFE reduced Covid related sales.

https://www.cnbc.com/2023/08/01/pfizer-pfe-q2-earnings-report-2023.html

“The contraction in revenues was driven by the anticipated decline in Paxlovid and Comirnaty sales,” Pfizer CFO David Denton said during an earnings call on Tuesday.

The company’s Covid vaccine raked in $1.49 billion in sales, down 83% from the year-ago quarter. Pfizer’s Covid antiviral pill Paxlovid posted $143 million in revenue, a drop of 98%.

Still big numbers obviously. Just a lot smaller than they were. Declines probably continue absent scary variants or outbreaks. There is a base level that will continue - the problem is figuring out what that level is.