The New York drugmaker also said Tuesday it's reaffirming its forecast for 2024, a month after surprising Wall Street with an initial outlook that missed consensus.
In the fourth quarter, Pfizer said it booked 8% operational revenue growth outside its market-leading COVID vaccine, Comirnaty, and treatment, Paxlovid.
Comirnaty sales tumbled 53% in the quarter to $5.4 billion, and Pfizer took a $3.1 billion hit from Paxlovid for a revenue reversal.
It included sales expectations for its COVID-19 products that fell more than $5 billion short of expectations.
The company had previously scaled back its sales expectations for 2023, which sent Pfizer shares plunging and contributed to a rough year for the stock.
Persons:
Pfizer, York drugmaker, it's
Organizations:
Pfizer, Pfizer Inc
Locations:
York