Pfizer reported a decline in revenue on Nov. 4, which it primarily attributed to lower sales for the company’s COVID-19 vaccine, Comirnaty, and COVID-19 drug, Paxlovid.
The company said it made $16.7 billion in revenue in the third quarter, down 7 percent from Q3 2024.
“We saw solid contribution across our product portfolios … but it was more than offset by declines in Paxlovid and Comirnaty,” Pfizer Chief Financial Officer Dave Denton told investors in a call.
Sales of Paxlovid were down 55 percent, lowered by reduced COVID-19 infection rates across the world, executives said.
Sales of Comirnaty, one of four available COVID-19 vaccines in the United States, were down 20 percent, mainly due to the U.S. government’s narrower recommendations and a delay in approval of the latest version of the shot….