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From Hallelujah To Headwind: Pfizer's COVID-19 Franchise Hits The Downturn

 
• By Jessica Merrill

Pfizer expects Comirnaty and Paxlovid revenues to be drastically lower this year after pushing 2022 revenues over $100bn. Management said 2023 would be a transition year for the company.

downturn
Pfizer forecast a sharp decline in its COVID-19 revenues • Source: Shutterstock

Pfizer Inc.'s COVID-19 franchise was a huge windfall for the company in 2021 and 2022, but that business is tapering off, as expected, and will be a headwind for the company this year. Management positioned 2023 as a transition year for the COVID-19 business – and for Pfizer as well – during the company's fourth quarter sales and earnings call on 31 January.

Investors have been prepared for the COVID-19 business to decline, but the forecast was weaker than some analysts expected

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