Pfizer promises return to growth after COVID-19 product losses

30 January 2024

US pharma giant Pfizer (NYSE: PFE) has presented its financial results for the fourth quarter and full year of 2023.

Known as pharma's biggest company, Pfizer took a step back towards the pack in 2023 as the loss of sales from its COVID-19 products Comirnaty and Paxlovid (nirmatrelvir/ritonavir) dented its revenue.

The firm's total revenue figure for the fourth quarter met analysts' expectations, at $14.25 billion, a 41% decline on the same period in 2022, as the US government returned fewer doses of Paxlovid than feared.

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