{"id":72725,"date":"2023-10-14T23:59:28","date_gmt":"2023-10-15T03:59:28","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/pfizer-shares-fall-3-5-as-lower-demand-for-covid-19-treatments-drives-outlook-cut\/"},"modified":"2023-10-14T23:59:30","modified_gmt":"2023-10-15T03:59:30","slug":"pfizer-shares-fall-3-5-as-lower-demand-for-covid-19-treatments-drives-outlook-cut","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=72725","title":{"rendered":"Pfizer Shares Fall 3.5% as Lower Demand for Covid-19 Treatments Drives Outlook Cut"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20231013-708575\" role=\"document\">\n<p>By Sabela Ojea<\/p>\n<pre><\/pre>\n<p>Shares of Pfizer on Friday declined 3.5%, to $31.00, in after-hours trading after the company slashed its outlook for the year amid views for lower Covid-19 related revenue.<\/p>\n<p>The healthcare giant said it now expects to end 2023 with an unexpected $9 billion drop in sales from its Covid-19 vaccine and anti-viral treatment Paxlovid.<\/p>\n<div class=\"paywall\">\n<p>The company has accepted returns of about 7.9 Paxlovid treatment courses from the U.S. government, it noted.<\/p>\n<p>Pfizer is guiding for revenue of $58 billion to $61 billion for 2023, down from a prior forecast of $67 billion to $70 billion.<\/p>\n<p>It also anticipated full-year adjusted earnings per share of $1.45 to $1.65, down from a prior range of $3.25 to $3.45.<\/p>\n<p>Pfizer is targeting savings of at least $3.5 billion by the end of 2024, a restructuring plan that will come with layoff-related and implementation costs of $3 billion.<\/p>\n<pre><\/pre>\n<p>Write to Sabela Ojea at sabela.ojea@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/pfizer-shares-fall-3-5-as-lower-demand-for-covid-19-treatments-drives-outlook-cut-537036a4?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sabela Ojea Shares of Pfizer on Friday declined 3.5%, to $31.00, in after-hours trading after the company slashed its outlook for the year amid views for lower Covid-19 related revenue. The healthcare giant said it now expects to end 2023 with an unexpected $9 billion drop in sales from its Covid-19 vaccine and anti-viral [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-72725","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pfizer Shares Fall 3.5% as Lower Demand for Covid-19 Treatments Drives Outlook Cut | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Sabela Ojea Shares of Pfizer on Friday declined 3.5%, to $31.00, in after-hours trading after the company slashed its outlook for the year amid views\" \/>\n<meta name=\"robots\" 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