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☆ Pfizer struggles to claw back faith with Wall Street and its employees as it recovers from the Covid decline
  + stars: | 2024-06-28 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +19 min
But other current employees are dissatisfied with where the strategy shift has left them. In January 2023, Pfizer forecast a steep drop in annual revenue, to between $67 billion and $71 billion. Pfizer's 2023 revenue ultimately came in at $58.5 billion, including $11.22 billion from its Covid vaccine and $1.28 billion from Paxlovid. Faith in executive leadership also plunged among some workers, according to most of the current and former employees who spoke with CNBC. Some current workers said that hasn't appeared to change after the town hall on May 2.
Persons: Albert Bourla, Wall, they're, Bourla, I'm, drugmaker Seagen, Irfan Khan, hasn't, Pfizer, renegotiating, John Thys, Payal Sahni Becher, Becher, Kena, Mike McDermott, Bourla's Organizations: Corbis, Getty, Pfizer, Wall, CNBC, Los Angeles Times, Moderna, Centers for Disease Control, U.S ., GSK, Bristol Myers Squibb, Pfizer wasn't, . Biotech, Companies, Biotech, BioNtech, Reuters, Human, View Press, Global, APEC, Summit, Tech, Google Locations: U.S, Covid, Eagle Rock , California, Durham , North Carolina, Puurs, Belgium, New York City, Peapack , New Jersey, Kena
☆ Pfizer to invest more than $2.5 bln to expand European manufacturing
  + stars: | 2022-12-02 | by ( Michael Erman | ) www.reuters.com   time to read: +4 min
The Puurs site has played a key role in the production of COVID-19 vaccine shots Pfizer developed with its German partner BioNTech (22UAy.DE) using the messenger RNA (mRNA) technology. Output started there in late 2020 when Europe and the United States began rolling out shots to tackle the pandemic. "It is all aligned with the growth of our pipeline," Pfizer Chief Global Supply Officer Mike McDermott told Reuters. Pfizer has also been spending significantly to expand its manufacturing capacity in the United States. The New York-based drugmaker has announced plans to expand its Kalamazoo, Michigan, Rocky Mount, North Carolina, and McPherson, Kansas plants.
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