Children's Health Defense By
Pfizer on Tuesday announced 2022 profits of $31.4 billion on record sales of $100.3 billion but warned investors to set their sights much lower in 2023, as sales of COVID-19 vaccines and Paxlovid slow amid growing questions about their safety and efficacy.
Pfizer on Tuesday announced 2022 profits of $31.4 billion on record sales of $100.3 billion. Sales from its COVID-19 vaccine and Paxlovid, used to treat COVID-19, totaled $56 billion — more than half the vaccine maker’s annual revenue.
However, the company warned investors to expect sales of those two products to plummet up to 58% in 2023, to only about $21.5 billion — $3 billion short of Wall Street projections. Pfizer projected total 2023 revenue of only about $67-$71 billion.
The news followed on the heels of a string of developments calling into question the COVID-19 vaccines — including comments last week by billionaire and vaccine investor Bill Gates, who criticized the efficacy and durability of the vaccines during a talk at Australia’s Lowy Institute.
