Updated: Pfizer Slashes 2023 Revenue: Cuts $3.5 BILLION: EU Modifies Pfizer Contracts: EPS Decreases by $2 per Share
These are huge losses. Shortly after Pfizer acquired Warner-Lambert, CEO Bill Steere was asked, “What’s the difference between an acquisition and hostile takeover?” Steere replied, "$2 a share."
October 16, 2023: (Clarifications and EU Update) Per Pfizer’s 10/13/2023 news release:
Full-year 2023 revenues for Paxlovid and Comirnaty are expected to be approximately $12.5 billion, a decline of $9.0 billion versus original expectations.
As previously announced, the European Union (EU) contract for Comirnaty supply was renegotiated with amended purcha…
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