Pfizer Slashes 2023 Revenue by More than 10%: Cuts $3.5 BILLION in Jobs and Expenses

Although Pfizer’s COVID-19 revenues took a major blow in 2023, fortunately for Pfizer’s investors, the company invested in numerous products for ‘rare diseases’ the mRNA injections happen to cause.

October 15, 2023: According to REUTERS, “Pfizer on Friday slashed its full-year revenue forecast by 13% and said it will cut $3.5 billion worth of jobs and expenses due to lower-than-expected sales of its COVID-19 vaccine and treatment.”

That’s verbatim…from REUTERS. “Pfizer slashed it’s full-year revenue by 13% and cut $3.5 billion worth of jobs….”

Interesting choice of words. To me it sounds like someone’s head is on the chopping block due to the majority of the global public waking up to the COVID-19 ‘novel scamdemic’ and “high-risk/no benefit” mRNA technology injections.

Pfizer More than Doubles Annual Revenues with COVID-19 Products

In 2019 and 2020, Pfizer’s annual revenue hovered around $41 billions, with a giant leap in 2021 due to COVID-19 and approximately $34 billion in COMIRNATY sales.

REUTERS reported that the combined 2022 Pfizer revenue from COMIRNATY and Paxlovid ALONE exceeded $56 billion. That’s more than Pfizer’s annual revenue in any year from the year it was incorporated up until 2021! And!!! 2022 revenues in total exceeded $100 billion!

2023 is Looking Much Different than 2021 and 2022

Pfizer originally forecasted 2023 revenues to be between $67 and $70 billion, but said it now expects 2023 revenue of between $58 billion and $61 billion. Pfizer reported that “the reduction was solely due to lowered expectations for its COVID-19 products.”

Paxlovid Sales Were Slashed from $8 Billion to $1 Billion

According to REUTERs, “Pfizer slashed its forecast for sales of its antiviral COVID treatment Paxlovid by about $7 billion.” (I’m intrigued that the author keeps using the term ‘slashed’. This term is much more drastic that ‘reduced’ or ‘adjusted.’ This may indicate rough times ahead for Pfizer.) The article states that Pfizer issued a $4.2 billion non-cash reversal of Paxlovid sales to the US government, in other words, a credit to purchase Paxlovid in the future since the product was not used (and is likely is expiring).

Luck of the Draw?

Although Pfizer’s COVID-19 revenues took a major blow in 2023, fortunately for Pfizer’s investors the company invested in numerous products for ‘rare diseases’ (such as myocarditis and demyelinating diseases - deterioration of the myelin sheath that protects nerve cells) that the COVID-19 mRNA injections happen to cause.

Keep an Eye on Revenue Growth from Pfizer’s ‘Rare Disease’ Products

The article closes claiming that Pfizer stated that other product sales on are track for a 6% to 8% revenue growth. I would keep an eye on other products growth; such as;