Pfizer’s first-quarter revenue jumps to $ 25.7 billion

Pfizer's first-quarter revenue jumps to $ 25.7 billion

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The Covid vaccine boosted the group’s results, up 77% over the course of a year.

The US pharmaceutical group Pfizer recorded sales of $ 25.7 billion in the first quarter, up 77% year-on-year, largely thanks to sales of its Covid-19 vaccine. The company also maintained its $ 22 billion forecast for the sale of its anti-communications pill, Paxlovid, throughout the year, according to its financial results released on Tuesday.

The World Health Organization (WHO) strongly recommended this antiviral drug in April for patients with less severe forms of Covid-19 and “at a higher risk of hospitalization“.

Pfizer, on the other hand, revised its annual earnings estimate downwards, mainly due to a change in its accounting standards. The US stock market regulator requires pharmaceutical groups to include certain costs, particularly R&D acquisitions, in their financial forecasts. Pfizer now expects annual earnings per share to be between $ 6.25 and $ 6.45, up from $ 6.35 to $ 6.55 previously.

Humanitarian aid for the Ukrainian people

Forecasts for the annual turnover, on the other hand, are still between $ 98 billion and $ 102 billion. The Cominarty vaccine against Covid-19 should represent $ 32 billion in sales. From January to March, the group’s net profit reached $ 7.9 billion. Reported per share and excluding exceptional items, earnings were $ 1.62, above market forecasts.

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We continue to deliver Cominarty to the world, which remains a critical tool in helping patients and societies avoid the worst effects of the Covid-19 pandemic.“, Commented the CEO of Pfizer, Albert Burla, as he referred to in a press release. “We are well on our way to fulfilling our commitment to deliver at least 2 billion pods to low- and middle-income countries in 2021 and 2022, including at least 1 billion this year“, Added the leader.

During the Russian invasion of Ukraine, the group recalled that it had maintained humanitarian supplies of medicine to Russia, but that all the profits of its subsidiaries in the country were used to finance humanitarian aid for the people. Pfizer also said it would no longer begin clinical trials in Russia, would no longer hire new patients for ongoing clinical trials, and would suspend future investment in local partners to build factories. Pfizer shares fell 1.2% in electronic trading before the opening of the Wall Street session.


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