Covid-19 product sales are expected to dry up.
Pfizer said Friday it is cutting its guidance for the year by $9 billion due to changes in expected sales of its Covid-19 vaccine and treatment Paxlovid.
Pfizer lowered its guidance to between $58 billion and $61 billion from between $67 billion and $70 billion. The company is slashing its guidance for Paxlovid by $7 billion and the vaccine by roughly $2 billion. Pfizer previously said it expected $8 billion in Paxlovid sales this year and $13.5 billion from the vaccine.
