Pfizer Inc. is continuing in a transition phase as it integrates the Seagen oncology business, right-sizes the COVID-19 business and builds commercial momentum behind newer drugs and vaccines across a wide array of therapeutic areas. It’s an important year for Pfizer to rebuild trust with investors after a disappointing 2023, when the company missed its financial forecast and had to reset expectations late in the year and implement cost cuts.
Key Takeaways
- Pfizer reported a 20% first quarter revenue decline driven by lower COVID-19 sales, but sales grew 11% operationally excluding the vaccine Comirnaty and antiviral Paxlovid.
“We know credibility is extremely important for us,” CEO Albert Bourla told investors during the company’s first quarter sales and...
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