© Reuters. FILE PHOTO: A compagny brand is seen at a Pfizer workplace in Puurs, Belgium, December 2, 2022. REUTERS/Johanna Geron
(Reuters) -Pfizer Inc on Tuesday forecast a steeper-than-expected drop in gross sales of its COVID-19 vaccine and tablets in 2023, intensifying investor considerations over demand for the merchandise as governments scale back orders.
The corporate’s shares fell 3.1% to $42.22 earlier than the bell.
The forecast casts some uncertainty over future gross sales of Pfizer (NYSE:)’s greatest promoting merchandise this yr, that are anticipated to return beneath strain as authorities spending on COVID vaccines and coverings declines.
The U.S. drugmaker stated it expects gross sales of $13.5 billion from the vaccine for 2023, beneath Refinitiv estimates of $14.39 billion, and projected $8 billion in gross sales of its antiviral capsule, Paxlovid, wanting analysts’ expectation of $10.33 billion.
That in contrast with gross sales of $37.81 billion for the vaccine and $18.93 billion for Paxlovid in 2022.
The drugmaker has been hoping to supply its vaccine via the non-public market in the US and different areas as government-backed vaccination campaigns for unique photographs close to their finish.
