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Home Industry News Pfizer 2023 Q1 Revenue Hits over $18 Bn

Pfizer 2023 Q1 Revenue Hits over $18 Bn

5th May 2023

For Q1 of 2023, Pfizer achieved total revenues of $18.3 Billion.

The company had already anticipated a reduction in sales for Comirnaty, an active ingredient in their Covid 19 vaccine, during their first quarter this year. The total sales gained across Comirnaty and Paxlovid sales during this period was $7.1 Billion.

If you don’t include these two medicines, the company’s total operational sales have increased by 5%.

Diluted Earnings Per Share (EPS), which measures the profitability of the business, saw an annual decrease of almost 30% to $0.97.

Their adjusted Diluted EPS also dropped by almost 25% compared to last year, to $1.23.

The plan for this year is to expand their product portfolio further. The FDA has already signed off Zavzpret, Cibinqo and Prevnar 20, both to be used in the treatment of patients under the age of 21.

Pfizer’s CEO, Dr. Albert Bourla, described 2023 as “an exciting time for Pfizer as we are already executing on and rigorously planning for an unprecedented number of anticipated new product and indication launches, most of which are expected to occur in the second half of” this year.

Pfizer’s CFO and EVP, David Denton, expressed that their “first-quarter results were in line with our expectations, underlining our continued confidence in achieving 7% to 9% operational revenue growth for fiscal-year 2023, excluding our COVID-19 products and anticipated foreign exchange impacts. We expect the majority of this growth to occur in the second half of 2023.

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