Pfizer tops Q1 forecasts; vaccine sales slide as expected
Pfizer topped Wall Street expectations even as sales of its top-selling COVID-19 vaccine crumbled in the first quarter
By Associated Press
Published - May 02, 2023, 07:06 AM ET
Last Updated - Jun 22, 2023, 12:06 AM EDT
PFE" target="_blank">Pfizer (PFE) topped Wall Street expectations Tuesday even as sales of its top-selling COVID-19 vaccine crumbled in the first quarter.
Revenue from Pfizer’s Comirnaty vaccine fell 77% to $3 billion in the first three months of the year, compared with more than $13 billion in the same stretch last year.
Also read: Pfizer Declares Second-Quarter 2023 Dividend
The drop was widely expected because the drugmaker is moving this year from supplying governments through big contracts to selling the vaccine on the commercial market.
