• 1Q24 sales of Comirnaty (COVID vaccine) and Paxlovid were $354M and $2.0B, respectively.
• 1Q24 GAAP and non-GAAP EPS were $0.55 and $0.82, respectively. Both the GAAP and non-GAAP figures include a $0.11 benefit from a better settlement with the US government on expired lots of Paxlovid than the amount that PFE wrote off during 4Q23.
2024 full-year guidance
• 2024 non-GAAP EPS guidance is now $2.15-2.25, up $0.10 from the prior range. Both the old and the new guidance ranges include a negative $0.40 hit from SGEN, most of which stems from the net interest expense on the $43B of net debt PFE took on to fund the acquisition.
• 2024 sales guidance for Comirnaty (COVID vaccine) is $5B (down from $11.2B in 2023), unchanged from the prior guidance three months ago. ~90% of 2024 Comirnaty sales are expected to occur in 4Q23, due to seasonality.
• 2024 sales guidance for Paxlovid is $3B (no meaningful figure for 2023 due to the aforementioned write-off), unchanged from the prior guidance three months ago. Inasmuch as 1Q24 Paxlovid sales were $2.0B, the 2024 full-year guidance implies $1.0B of Paxlovid sales during 2Q24/3Q24/4Q24.
• 2024 sales guidance for legacy-Seagen sales is $3.1B.
News 
Market Data 
Discover 
AI
