Pfizer (PFE) stock declined on Tuesday after the pharmaceutical giant reported a “pretty uneventful quarter,” despite strong sales from its COVID-19 products. Revenue from Comirnaty, the BioNTech-partnered COVID-19 vaccine, and Paxlovid, an oral antiviral treatment for COVID-19, exceeded expectations with $3.83 billion and $727 million, respectively.
Although sales of these products plummeted year-over-year, their performance helped drive a fourth-quarter beat. The company’s COVID-19 business seems to be stabilizing, but the focus for 2025 remains on cost discipline and commercializing its cancer drugs.
Pfizer’s overall sales jumped 21% to $17.76 billion, driven by strong performance from Eliquis, Nurtec, Vyndaqel, and Ibrance. The company reaffirmed its guidance for adjusted profit of $2.80 to $3 per share and $61 billion to $64 billion in sales.
Analysts expect the company’s stock to continue performing well due to its stable COVID-19 business and efforts to reduce costs. However, some note that this may be a seasonal boost similar to flu season, rather than a long-term trend.
Source: https://www.investors.com/news/technology/pfizer-stock-pfizer-earnings-q4-2024