Pfizer’s quarterly profit fell 4 times – Kommersant
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Today, August 1, the American pharmaceutical company Pfizer informed on the results of its activities in the second quarter. Total revenue was $12.7 billion, down 54% from a year earlier ($27.7 billion). Net profit, on the other hand, more than quadrupled compared to the same quarter last year, from $9.9 billion to $2.3 billion. now the demand for these products has declined sharply.
As a result, Pfizer failed to meet the experts’ forecasts. Interviewed Analysts at Refinitiv were expecting $13.3 billion in revenue from the company. The company has already said that if sales of anti-covid drugs, mainly Paxlovid, continue to decline, it will have to cut costs. After the publication of the quarterly report, Pfizer shares fell 1%.
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