Pfizer Inc. kept its outlook for annual sales of its Covid-19 vaccine and treatment, disappointing investors who looked for the products to continue driving growth.
Through mid-April, Pfizer said it has clinched $32 billion in 2022 contracts for the shot, Comirnaty, and $22 billion for its Covid pill, Paxlovid, the same figures it released three months ago. Wall Street analysts had estimated about $34 billion in annual sales from Comirnaty, which the company makes in partnership with BioNTech SE, and $27 billion in Paxlovid sales.
Pfizer generated $25.7 billion in first-quarter sales, $13.2 billion of which came from Comirnaty, beating Wall Street’s $10.6 billion estimate. More than 80% of the shot’s sales came from outside the U.S. Pfizer leadership will aim to address those anxieties during the investor call, noting that they’re seeking to further expand the market for Comirnaty and Paxlovid in certain populations. Pfizer said it plans to launch a new study of the drug in patients with compromised immune systems in the second half of 2022. These patients have a more difficult time clearing infections, and the study will look to optimize treatment duration.
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