Pfizer losses were not as great as expected in the third quarter, but a continued decline in sales of its COVID-19 products clipped revenue. Pfizer reported a $2.38 billion quarterly loss Tuesday, or 42 cents per share.
FILE - Doses of the anti-viral drug Paxlovid are displayed in New York, Aug. 1, 2022. The COVID-19 treatments millions of have taken for free from the federal government will enter the private market next week with a hefty price tag. Pharmaceutical giant Pfizer is setting the price for a five-day treatment of Paxlovid at $1,390, but Americans can still access the pills at no cost, for now.
The company expects lower revenue overall this year due to sales declines for its COVID-19 products, Paxlovid and Comirnaty.Pfizer trims expectations for 2023 with sales of COVID-19 vaccine, treatment, weaker than thoughtin the second quarter, but Pfizer said in August that it expected a rebound in the second half of 2023.
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