Pfizer has introduced the PAXLOVID antiviral drugs, which consist of nirmatrelvir and ritonavir, to combat the virus. Developed by Pfizer, these medications have shown promising results in treating the virus.
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In a remarkable third-quarter performance, Pfizer exceeded revenue and profit expectations due to the success of its Covid vaccine and Paxlovid antiviral pill. The company’s financial outlook has been revised upwards as a result.
Pfizer now anticipates adjusted earnings per share between $2.75 and $2.95 for the full year, up from its previous estimate of $2.45 to $2.65 per share. Revenue projections have also been raised to a range of $61 billion to $64 billion.
This increase includes an estimated revenue of approximately $5 billion from the Covid vaccine and $5.5 billion from Paxlovid sales.
The positive results come at a crucial time for Pfizer CEO Albert Bourla amidst pressure from activist investor Starboard Value, who holds a significant stake in the company.
2024-10-29 12:37:24
Link from www.cnbc.com