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Wolfgang Rattay - 1 Evan Seigerman - 1 BioNTech - 1 Albert Bourla - 1 Angela Hwang - 1 Paxlovid - 1 Bhanvi Satija - 1 Michael Erman - 1
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Search resuls for: "Bhanvi Satija Michael Erman"


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☆ Pfizer looks beyond COVID after quarterly loss on Paxlovid charge
  + stars: | 2023-10-31 | by ( Bhanvi Satija Michael Erman | Bhanvi Satija | Michael Erman | ) www.reuters.com   time to read: +4 min
Paxlovid, Pfizer's anti-viral medication to treat the coronavirus disease (COVID-19), is displayed in this picture illustration taken October 7, 2022. Sales of Paxlovid and the vaccine Pfizer makes with German partner BioNTech (22UAy.DE) had boosted revenue to record levels the last two years. Reuters GraphicsPfizer continues to expect 2023 revenue growth of 6%-8% from non-COVID products, with a majority occurring in the second half. Paxlovid sales slumped 97% in the third quarter to $202 million, while vaccine revenue of $1.31 billion was down from $4.4 billion a year earlier. Analysts had expected $1.44 billion for the vaccine and $618.20 million from Paxlovid, according to LSEG data.
Persons: Wolfgang Rattay, Evan Seigerman, BioNTech, Albert Bourla, Angela Hwang, Paxlovid, Bhanvi Satija, Michael Erman, Sriraj Kalluvila, Bill Berkrot Organizations: REUTERS, Pfizer, BMO Capital, Reuters Graphics Pfizer, GSK, CVS, Analysts, U.S ., Thomson Locations: Europe, Paxlovid, Bengaluru, New York
☆ Novavax forecasts higher-than-expected revenue; shares surge
  + stars: | 2023-05-09 | by ( Bhanvi Satija Michael Erman | Bhanvi Satija | Michael Erman | ) www.reuters.com   time to read: +3 min
Novavax, whose COVID vaccine is its lone marketed product after 35 years in business, is relying on launching an updated COVID shot this fall to match circulating strains and cost cuts to improve its prospects. Novavax said $800 million of that was from "locked-in" overseas purchase contracts for the COVID shot that it has committed to ship this year. Novavax is working to produce an update version of its protein-based vaccine in time for the fall COVID-19 booster season. Novavax expects the cost cuts to reduce its annual research and commercial expenses by 20% to 25% from last year. Data from a mid-stage trial in adults aged 50 to 80 years showed that the combination shot produced an immune response comparable to its protein-based COVID vaccine and already approved influenza shots, Novavax said.
☆ Pfizer forecasts steep fall in 2023 sales of COVID products
  + stars: | 2023-01-31 | by ( Bhanvi Satija Michael Erman | Bhanvi Satija | Michael Erman | ) www.reuters.com   time to read: +3 min
In 2023, it expects revenue to be $67 billion to $71 billion. Excluding the COVID-19 drugs, Pfizer expects 2023 revenue to grow 7% to 9%. Pfizer developed its COVID-19 vaccine with German partner BioNTech , and the companies split the profits. The U.S. drugmaker forecast 2023 sales of $13.5 billion from the shot, below Refinitiv estimates of $14.39 billion, and projected $8 billion in sales of Paxlovid, short of analysts' expectation of $10.33 billion. After that transition, the company hopes to roughly quadruple the U.S. price of the COVID-19 vaccine.
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