Vaccine maker Pfizer posts record revenues, sees slower 2023
- Business
- DPA
- Published Date: 04:49 | 31 January 2023
- Modified Date: 04:52 | 31 January 2023
Pfizer, a key manufacturer of coronavirus vaccines and a drug to fight Covid-19, expects revenue to slow this year after posting record profits in 2022, the company said on Tuesday.
Revenues for 2022 were $100.3 billion, an all-time high for the U.S. pharmaceutical company. This included 30% in operational growth, the company said in a statement. Last year profits rose by 43% to $31.3 billion.
Brisk sales of its Covid-19 remedy Paxlovid boosted sales, the firm said.
But the company predicted 2023 revenue increases would slow to $67 billion to $71 billion, as spread of the coronavirus has slowed and many countries are sitting on stockpiles of the vaccine and medication.
Earnings per share (EPS) adjusted for special factors rose by 62% to $6.58. For 2023, Pfizer has set a target range of $3.25 to $3.45.
Revenues for 2022 were $100.3 billion, an all-time high for the U.S. pharmaceutical company. This included 30% in operational growth, the company said in a statement. Last year profits rose by 43% to $31.3 billion.
Brisk sales of its Covid-19 remedy Paxlovid boosted sales, the firm said.
But the company predicted 2023 revenue increases would slow to $67 billion to $71 billion, as spread of the coronavirus has slowed and many countries are sitting on stockpiles of the vaccine and medication.
Earnings per share (EPS) adjusted for special factors rose by 62% to $6.58. For 2023, Pfizer has set a target range of $3.25 to $3.45.
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