Pfizer (PFE) Q3 earnings report 2023


CFOTO | Future Publishing | Getty Images

Pfizer on Tuesday reported a narrower than expected adjusted loss for the third quarter as the drugmaker recorded charges largely related to struggles for its Covid antiviral treatment Paxlovid and Covid vaccine.

Pfizer said that it recorded a $5.6 billion charge for inventory write-offs in the third quarter due to lower-than-expected use of Covid products. Of these write-offs, $4.7 billion are chalked up to Paxlovid and $900 million are attributed to the company’s company vaccine.

The pharmaceutical giant also reiterated the full-year adjusted earnings and revenue guidance it announced two weeks ago, which is drastically lower than its initial…

Source cnbc.com

0 0 votes
Article Rating

Snap earnings Q3 2023

Previous article

Climate change forcing real-estate developers to add weather-proofing

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Earnings