No data to display.

Pfizer shares fall as Covid-19 vaccine and antiviral tablet forecasts miss estimates

By Ishika Dangayach on Feb 08, 2022 | 05:38 AM IST

Pfizer.png

• Pfizer's vaccine reports $12.5 billion in sales in the last three months of 2021

• The company anticipates sales of $98 billion to $102 billion in 2022

• The company’s fourth-quarter revenue more than doubled year on year to $23.84 billion

Pfizer Inc. (NYSE: PFE) shares fell 3.78% in premarket trade Tuesday after the drugmaker full-year sales projection for its Covid-19 vaccine and antiviral tablet fell short of analyst expectations. 

However, the company's fourth-quarter results were mixed, with earnings meeting expectations but revenue falling short.

Read more: Peloton CEO John Foley to step down, become executive chair - WSJ

Here's how the company performed in comparison to what Wall Street predicted:

EPS Adjusted: $1.08 compared. the predicted 87 cents

Revenue: $23.84 billion, compared to the estimated $24.12 billion.

The drugmaker anticipates $54 billion in combined sales of both drugs this year, with COVID-19 vaccine sales of $32 billion and Paxlovid, its oral antiviral to treat the illness, sales of $22 billion.

Read more: US stock futures surge ahead of exports and imports data

According to Refinitiv statistics, analysts predicted that the COVID-19 vaccine will sell for $33.79 billion and Paxlovid would sell for $22.88 billion.

Pfizer's revenue shortfall was caused by weak sales in its internal medicine and hospital sectors. Internal medicine sales declined 3% year on year to $2.24 billion in the fourth quarter, while hospital sales were essentially unchanged at $1.88 billion in the same time in 2020.

The company’s fourth-quarter revenue, on the other hand, more than doubled year on year to $23.84 billion.

Read more: Tesla says its bitcoin holdings swelled to nearly $2 billion last year

Pfizer's vaccine generated $12.5 billion in sales in the last three months of 2021, contributing to total revenue of $23.84 billion. Paxlovid, which was approved by the Food and Drug Administration just before the end of the quarter, increased revenues by $76 million.

The drugmaker’s unadjusted fourth-quarter earnings more than quadrupled to $3.39 billion from $847 million in the same three months in 2020.

Read more: Frontier Group to acquire Spirit Airlines in $6.6-billion transaction

The company anticipates sales of $98 billion to $102 billion in 2022, with adjusted earnings per share ranging from $6.35 to $6.55.

Picture Credits: ET 

Stock View