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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 cut 500 jobs at UK site as part of wider cost cuts
  + stars: | 2023-11-14 | by ( ) www.reuters.com   time to read: +1 min
Pfizer company logo is seen at a Pfizer office in Puurs, Belgium, December 2, 2022. REUTERS/Johanna Geron/ File Photo Acquire Licensing RightsNov 14 (Reuters) - Pfizer (PFE.N) will cut 500 jobs at its Sandwich, Kent site in the U.K. as part of its $3.5 billion cost-cutting plan, the drugmaker said on Tuesday. The U.S. drugmaker announced the cost-cutting program in October after slashing its full-year revenue forecast due to lower-than-expected sales of its COVID-19 vaccine and treatment. Pfizer, which employs roughly 83,000 people globally, has not disclosed how many jobs will be affected by the cost-reduction program. The company said on Tuesday it would share further details on the program as part of the full-year forecast for 2024.
Persons: Johanna Geron, drugmaker, Christy Santhosh, Shailesh Kuber Organizations: Pfizer, REUTERS, Thomson Locations: Puurs, Belgium, Sandwich, Kent, U.S
US FDA approves Pfizer's inflammatory bowel disease drug
  + stars: | 2023-10-13 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Johanna Geron/File Photo Acquire Licensing RightsOct 13 (Reuters) - The U.S. Food and Drug Administration has approved Pfizer's (PFE.N) drug to treat adults with an inflammatory bowel disease called ulcerative colitis, the company said on Friday. The decision was based on data from a late-stage study that showed a reduction in disease symptoms for some patients who took the drug, when compared with the placebo. Globally, the market for inflammatory bowel diseases is about $20 billion, making it a lucrative target for drugmakers. Analysts last year estimated that peak sales for the Pfizer drug could top $3 billion a year. Reporting by Khushi Mandowara in Bengaluru; Editing by Arun Koyyur and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Johanna Geron, Velsipity, Bristol Myers, Khushi, Arun Koyyur Organizations: Pfizer, REUTERS, U.S . Food, Drug Administration, Arena Pharmaceuticals, Bristol, drugmakers, Thomson Locations: Puurs, Belgium, U.S, United States, Bengaluru
Pfizer slashed its full-year earnings and revenue guidance on Friday, as it said demand for its Covid products has waned. The company now expects 2023 sales of $58 billion to $61 billion, down from its previous guidance of $67 billion to $70 billion. Pfizer said it cut its revenue outlook "solely due to its Covid products." The biopharmaceutical company slashed its full-year adjusted earnings guidance to a range of $1.45 to $1.65 per share, from a previous $3.25 to $3.45 per share. It also said it anticipates sales of its vaccine, Comirnaty, will be $2 billion lower than previously expected because of lower-than-expected vaccination rates.
Persons: Albert Bourla Organizations: Pfizer, European Commission, BioNTech, U.S ., CNBC, YouTube Locations: U.S, Puurs, Belgium
US FDA approves Pfizer's blood cancer therapy
  + stars: | 2023-08-14 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Johanna Geron/File PhotoAug 14 (Reuters) - The U.S. Food and Drug Administration on Monday granted accelerated approval to Pfizer's (PFE.N) therapy for treating patients with a type of blood cancer that is difficult to treat, the company said. Multiple myeloma is a common type of blood cancer, which develops in the bone marrow and can spread throughout the body. The FDA approval is based on data from a mid-stage study that showed that 58% of patients treated with Pfizer's therapy had no signs of cancer or had seen a significant decrease in cancer cells in the body. Pfizer said it will continue testing the therapy in ongoing late-stage trials to expand its use in earlier lines of treatment for patients. The therapy's approval comes with a boxed warning for neurologic toxicity and cytokine release syndrome, a condition where the immune system reacts more aggressively.
Persons: Johanna Geron, Epkinly, Johnson, Pfizer's, Bhanvi Satija, Leroy Leo, Pratik, Shounak Dasgupta Organizations: Pfizer, REUTERS, U.S . Food, Drug Administration, FDA, Thomson Locations: Puurs, Belgium, U.S, Bengaluru
REUTERS/Johanna Geron/File PhotoJune 1 (Reuters) - Pfizer Inc (PFE.N) said on Thursday data from late-stage trials showed its experimental combination of antibiotics was effective in treating deadly infections caused by drug-resistant bacteria. Deaths from antibiotic-resistant bacteria, also known as superbugs, have been on the rise globally, and health regulators have called for the development of newer treatments as resistance to older antibiotics grows. The late-stage studies compared the experimental combination of the antibiotics aztreonam-avibactam (ATM-AVI) and existing generic drug metronidazole with a combination of two older antibiotics - meropenem and colistin - to treat complicated intra-abdominal infections and types of hospital-acquired pneumonia. Pfizer said the data from the studies shows the antibiotic combination of ATM-AVI is effective and well-tolerated in treating infections caused by gram-negative bacteria. For patients with types of hospital-acquired pneumonia and ventilator‐associated pneumonia, the cure rate was 45.9% for Pfizer's antibiotic combination with metronidazole, versus 41.7% for other, older treatments.
Persons: Johanna Geron, Leroy Leo, Sriparna Roy, Pooja Desai Organizations: Pfizer, REUTERS, Pfizer Inc, Disease Control, Thomson Locations: Puurs, Belgium, United States, Bengaluru
Pfizer CEO Albert Bourla on Thursday said pharmaceutical companies will likely take legal action against Medicare drug price negotiations, which aim to cut costs for older Americans, but will likely reduce company profits. Bourla referred to a provision in the Biden administration's Inflation Reduction Act that will allow the Medicare program to negotiate prices on the costliest prescription drugs each year. The first negotiations start in September and new prices will go into effect in 2026. Some drugmakers are already preparing to fight Medicare drug negotiations, industry sources told Reuters. Another provision of the Inflation Reduction Act requires Pfizer and other prescription drug companies to refund Medicare through rebates if the prices of their drugs rise faster than the rate of inflation.
Pfizer agrees to revise EU COVID vaccine contract -FT
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Pfizer company logo is seen at a Pfizer office in Puurs, Belgium, December 2, 2022. Under the revised terms, Pfizer is asking for payment for doses ordered that will never be manufactured, the FT report said. Medzhidiev added that he believed other EU members also would not support the proposed deal in its current form. "The proposed Pfizer amendment to the Pfizer agreement is clearly unacceptable to us given the critical situation of vaccine oversupply in Bulgaria and unjustified financial burden for products destined for destruction," Medzhidiev said. The discussions included the possibility that Pfizer would reduce the up to 500 million COVID-19 vaccine doses the EU has committed to buy this year in return for a higher price.
Pfizer CEO Albert Bourla on Monday said the pharmaceutical giant will be able to deliver Seagen's cancer therapy to the world "at a scale that has not been seen before" with its $43 billion acquisition. Seagen will bulk up Pfizer's cancer treatment portfolio, bringing four approved cancer therapies with combined sales of nearly $2 billion in 2022. "These medicines are on a strong growth trajectory, with significant lifecycle programs anticipated to drive continued impact uptake and growth," Bourla said on a conference call earlier Monday morning. Seagen expects to generate about $2.2 billion in revenue this year, representing 12% year-over-year growth, according to a Pfizer press release. Pfizer added that Seagen could contribute more than $10 billion in risk-adjusted sales by 2030, "with potential for significant growth" beyond that year.
PUURS, Belgium March 9 (Reuters) - U.S. drugmaker Pfizer (PFE.N) is ready to launch its respiratory syncytial virus (RSV) vaccine for both older adults and pregnant women in the U.S. and Europe later this year, executives said on Thursday. Both Pfizer and British drugmaker GSK (GSK.L) have RSV vaccines they hope to launch in the U.S. and Europe this year, pending regulators’ approval. “We are anticipating approval in both the U.S. and Europe in time for rollout in the fall,” Kena Swanson, Pfizer's head of viral vaccines research & development, told a media briefing at the company's biggest manufacturing and packaging site globally. GSK told Reuters on Wednesday that it is also ready to launch its RSV vaccine for older adults in the U.S. this year without supply constraints. GSK last year voluntarily stopped its clinical trial of its own RSV vaccine on pregnant women and is currently only pursuing the use of its vaccine on older adults, a company spokesperson told Reuters on Thursday.
[1/2] Pfizer company logo is seen at a Pfizer office in Puurs, Belgium, December 2, 2022. REUTERS/Johanna GeronFeb 17 (Reuters) - Drugmaker Pfizer Inc (PFE.N) and France's Valneva (VLS.PA) will stop testing a Lyme disease vaccine in roughly half of U.S. patients in a late-stage study, the companies said, citing a breach of clinical trial guidelines by a third-party contractor. Pfizer still expects to submit marketing applications for the experimental vaccine in the United States and Europe in 2025. The trial was expected to include around 6,000 participants aged 5 and older across Europe and United States, where Lyme disease is highly endemic. Paris-listed shares of Valneva fell nearly 10% to 5.72 euros following the news and U.S.-listed shares of Pfizer were down marginally in premarket trading.
The Food and Drug Administration is expected to decide by spring whether to approve Pfizer's vaccine to prevent respiratory syncytial virus, or RSV, in adults ages 60 and older. Pfizer, in a statement Wednesday, said the FDA has accepted its RSV vaccine candidate for review under an expedited process that reduces the approval process by four months. RSV is a common respiratory virus that causes cold like symptoms in most people, but it can result in severe illness in infants and older adults. Between 60,000 and 120,000 older adults are hospitalized with RSV every year and 6,000 to 10,000 older adults die from the virus. Pfizer's vaccine candidate was about 86% effective in preventing severe lower respiratory tract illness, defined as three or more symptoms.
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.
Bourla said Pfizer is staring down an expected loss of between $16 billion and $18 billion in revenue from 2025 through 2030 as patent protections for some of its bestselling drugs expire. "We recognize that some are questioning Pfizer's longer-term growth prospects," Bourla told analysts during Pfizer's third-quarter earnings call Tuesday. Taken together, these five drugs represented about 40% of Pfizer's third-quarter revenue this year when the Covid vaccine and the antiviral treatment Paxlovid are excluded. Pfizer's RSV vaccine candidates for older adults and infants have the potential to generate billions in revenue, Bourla said. It would be the only RSV vaccine in the U.S. that protects infants by giving the shot to the mother, he said.
Compania farmaceutică BioNTech a estimat luni că este în măsură să producă două miliarde de doze de vaccin împotriva COVID-19 până la finele anului 2021, peste obiectivul anterior de circa 1,3 miliarde de doze, relatează luni AFP.Această estimare include însă şi ''noul standard'', care permite extragerea a şase doze de vaccin dintr-o fiolă, în loc de cinci doze până în prezent, scrie agerpres.ro BioNTech, care produce acest vaccin în parteneriat cu compania farmaceutică americană Pfizer, mizează de asemenea pe extinderea capacităţilor de producţie, printre care şi darea în exploatare aşteptată la sfârşitul lunii februarie a unităţii de producţie de la Marburg, în Germania. Această nouă fabrică va permite suplimentarea capacităţii anuale de producţie cu până la 750 de milioane de doze, dintre care circa 250 de milioane în primul semestru al acestui an.Pfizer-BioNTech are în prezent o fabrică în Belgia, la Puurs, unde sunt produse vaccinurile destinate ţărilor Uniunii Europene, şi alte trei în SUA.Agenţia Europeană a Medicamentului (EMA) a actualizat vineri prospectul vaccinului Pfizer/BioNTech, stabilind că din fiecare fiolă pot fi extrase şase doze de vaccin, dar cu condiţia folosirii unor seringi cu un volum nu mai mare de 35 de microlitri.Comisia Europeană a anunţat tot vineri o comandă adiţională pentru 200 de milioane de doze de vaccin Pfizer/BioNTech, plus 100 de milioane ca opţiune, după criticile adresate Bruxellesului că nu a comandat anterior mai multe doze din acest vaccin, primul autorizat de EMA pentru utilizare în UE. Din comanda anterioară de 300 de milioane de doze, 200 de milioane de doze sunt programate să fie livrate până în septembrie, iar 75 de milioane de doze adiţionale de vaccin ar urma să fie livrate în al doilea trimestru al acestui an, potrivit Comisiei Europene.Desfăşurarea campaniei de vaccinare este criticată în mai multe ţări europene, în special în Franţa, unde a fost iniţiată foarte lent, precum şi în Germania, unde medicii deplâng faptul că din cauza numărului insuficient de doze personalul sanitar nu este prioritar la vaccinare.
Organizations: Uniunii Europene Locations: Marburg, Germania, Belgia, Franţa
Primele vaccinuri împotriva coronavirusului, dezvoltate de Pfizer și BioNTech, au părăsit fabrica Pfizer din Puurs sub escortă de poliție pentru a fi distribuite în întreaga UE. Potrivit Brussels Time, trei camioane frigorifice, escortate de două mașini de poliție fiecare, s-au îndreptat către un centru de distribuție a transportului Essers. De acolo, camioane mai mici au plecat spre alte țări din UE pentru a livra primele vaccinuri, scrie gandul.ro. Vaccinul dezvoltat de Pfizer și BioNTech a fost recomandat luni pentru o autorizație condiționată de introducere pe piață de către Agenția Europeană a Medicamentului (EMA) și aprobat de Comisia Europeană în aceeași zi. Elveția este cea mai recentă țară europeană care a început campania de vaccinare împotriva coronavirusului.
Organizations: Brussels, Radio, Limburg, Agenția Europeană, Europeană, Uniunea Europeană, americană Moderna Locations: UE, Statele Unite, Regatul Unit, Elveția
Livrările de doze de vaccin Pfizer/BioNTech, aprobat de Uniunea Europeană în această săptămână, au început miercuri pentru a pregăti lansarea campaniilor de vaccinare în UE în weekend, relatează dpa și Agerpres. „Se lucrează acum cu toate forţele pentru a pregăti primele loturi pentru distribuţie”, a transmis Pfizer către dpa într-un comunicat. Acest vaccin anti-COVID-19 este primul care a primit undă verde în Uniunea Europeană şi este fabricat la Puurs, în nordul Belgiei. Comisia Europeană a acordat autorizaţie condiţionată de punere pe piaţă a vaccinului, dezvoltat în comun de Pfizer şi BioNTech, în urma evaluării pozitive din partea Agenţiei Europene a Medicamentului (EMA). Pfizer a refuzat să dea detalii despre livrări, invocând ‘raţiuni de securitate’.
Persons: Pfizer, H . Essers Organizations: Uniunea Europeană, Europeană Locations: UE, Agerpres, Belgiei, Europa
De ce a ales Pfizer acest oraș (împreună cu fabrica din Kalamazoo, Michigan) pentru a produce vaccinul? Pfizer a cumpărat în 1963 o linie de producție din Puurs ce aparținea companiei farmaceutice Upjohn. Investiția a condus în cele din urmă la transformarea Pfizer Puurs într-unul dintre cele mai mari locuri de producție și ambalare ale Pfizer la nivel mondial. Poziția micuțului oraș reprezintă un alt atuu pentru care Pfizer a ales să producă aici vaccinul. Țara ocupă locul trei în topul UE pentru exportul de produse farmaceutice, împreună cu Germania și Irlanda.
Organizations: Aeroportul, Asociația Internațională Locations: belgian, belgian Puurs, Belgia, Puurs, Kalamazoo, Michigan, Anvers, Bruxelles, Belgiei, Europei, UE, Germania, Irlanda
Reporterii Politico au încercat să afle de la primarul orașului, Van den Heuvel cum a fost posibil ca acest mic orășel să devină atât de important în aceste vremuri. În urma Planului Marshall, investiții importante din partea marilor companii farmaceutice și chimice ca Alcon sau Upjohn au intrat în regiune. Țara ocupă locul trei în topul UE pentru exportul de produse farmaceutice, împreună cu Germania și Irlanda. Un alt avantaj îl reprezintă aeroportul din Bruxelles care a fost unul dintre primele certificate în mod specific de către Asociația Internațională a Transportului Aerian pentru transportul de mărfuri farmaceutice. Jumătate din producția de produse farmaceutice din Belgia este exportată în afara UE.
Persons: den, Lucrurile, Van den, Marshall, Colpaert, Janssen Organizations: Asociația Internațională Locations: Puurs, Belgiei, belgian Antwerpen, Bruxelles, Van den Heuvel, Belgia, UE, Germania, Irlanda, Biocartis, Flandrei
Dozele de vaccin au fost transportate în lăzi frigorifice şi sunt gata pentru a fi rapid distribuite în cazul în care sunt aprobate şi omologate, notează digi24.ro. Aceste zboruri reprezintă doar una dintre verigile lanţului global de aprovizionare pus la punct pentru a face faţă provocărilor logistice pe care le presupune distribuirea vaccinului anti-Covid-19. Planul de distribuţie include stocarea dozelor de vaccin în depozitele frigorifice deja existente în centrele companiei Pfizer din Kalamazoo, Michigan şi Puurs, Belgia, precum şi dezvoltarea facilităţilor similare din Pleasant Prairie, Wisconsin, respectiv Karlsruhe, Germania. Lanţul logistic presupune, de asemenea, zeci de zboruri cargo şi sute de transporturi rutiere în fiecare zi. Conform New York Post, the Food and Drug Administration (agenţia SUA de la care se aşteaptă omologarea vaccinului anti-Covid) a permis deja avioanelor cargo ale United Airlines să transporte de cinci ori mai multă gheaţă decât e voie, în mod normal, pe durata unui zbor (circa 6,8 tone), pentru a putea ţine vaccinul la temperaturile extrem de scăzute la care trebuie păstrat (în jur de minus 80 de grade Celsius).
Persons: Pleasant Organizations: Pleasant Prairie, York, Drug, United Airlines Locations: Kalamazoo, Michigan, Puurs, Belgia, Wisconsin, Karlsruhe, Germania, York Post, SUA
Primele doze de vaccin anti-COVID-19, dezvoltate de Pfizer, au început să fie aduse din SUA în EuropaVaccinul anti-COVID-19 dezvoltat de Pfizer a început să fie adus din SUA în Europa. Avioanele companiei aeriene United Airlines au început să opereze de vineri, 27 noiembrie, primele astfel de zboruri din istorie, cu destinaţia Bruxelles, informează Wall Street JournalDozele de vaccin au fost transportate în lăzi frigorifice şi sunt gata pentru a fi rapid distribuite în cazul în care sunt aprobate şi omologate, transmite digi24.ro. Aceste zboruri reprezintă doar una dintre verigile lanţului global de aprovizionare pus la punct pentru a face faţă provocărilor logistice pe care le presupune distribuirea vaccinului anti-COVID-19. Planul de distribuţie include stocarea dozelor de vaccin în depozitele frigorifice deja existente în centrele companiei Pfizer din Kalamazoo, Michigan şi Puurs, Belgia, precum şi dezvoltarea facilităţilor similare din Pleasant Prairie, Wisconsin, respectiv Karlsruhe, Germania. Lanţul logistic presupune, de asemenea, zeci de zboruri cargo şi sute de transporturi rutiere în fiecare zi.
Persons: Pfizer, Pleasant Organizations: United Airlines, Wall Street, Pleasant Prairie, York, Drug Locations: SUA, Europa, Bruxelles, Kalamazoo, Michigan, Puurs, Belgia, Wisconsin, Karlsruhe, Germania, York Post
Vaccinul anti-COVID-19 dezvoltat de Pfizer a început să fie adus din SUA în Europa. Avioanele companiei aeriene United Airlines au început să opereze de vineri primele astfel de zboruri din istorie, cu destinaţia Bruxelles. Dozele de vaccin au fost transportate în lăzi frigorifice şi sunt gata pentru a fi rapid distribuite în cazul în care sunt aprobate şi omologate, scrie digi24.ro. Aceste zboruri reprezintă doar una dintre verigile lanţului global de aprovizionare pus la punct pentru a face faţă provocărilor logistice pe care le presupune distribuirea vaccinului anti-COVID-19. Lanţul logistic presupune, de asemenea, zeci de zboruri cargo şi sute de transporturi rutiere în fiecare zi.
Persons: Pfizer, Pleasant Organizations: United Airlines, Pleasant Prairie, York, Drug Locations: SUA, Europa, Bruxelles, Kalamazoo, Michigan, Puurs, Belgia, Wisconsin, Karlsruhe, Germania, York Post
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