Pfizer and rivals have begun selling an updated COVID vaccine for this fall. The drugmaker said it now expects 2023 revenue of between $58 billion and $61 billion, down from its prior forecast of $67 billion to $70 billion. It had previously expected Paxlovid revenue of about $8 billion for the year. Pfizer also cut full-year revenue expectations for the COVID vaccine by about $2 billion due to lower-than-expected vaccination rates. Pfizer said its non-COVID products remain on track to achieve 6% to 8% revenue growth year over year in 2023.

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Persons: Albert Boura, Michael Erman, Sriparna Roy, Bill Berkrot, Rod Nickel Organizations: Pfizer, U.S ., Strategic, Thomson Locations: York, New Jersey, Bengaluru