COVID-19 vaccine and treatment sales helped Pfizer breeze past Wall Street’s first-quarter expectations, as the drugmaker’s profit grew 61%.
, which has been Pfizer’s top seller for about a year, brought in more than $13 billion in sales in the quarter. The pill treatment Paxlovid, which launched late last year, added another $1.5 billion.
Sales of that vaccine topped analyst expectations for the quarter, but revenue from Paxlovid fell short. Revenue from both products will likely wind up exceeding forecasts, Mizuho Securities USA analyst Dr. Vamil Divan said in a research note. He noted that current projections only include contracts the company signed as of mid-April.Outside Comirnaty and Paxlovid, Pfizer makes several cancer treatments, other vaccines and internal medicine drugs like Eliquis, for preventing blood clots and strokes.
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