Pfizer’s 2023 Financial Report Reveals 42% Earnings Reduction

Pfizer has disclosed its financial outcomes for the entire year of 2023, indicating a reduction in earnings to $58.5 billion, reflecting a 42% decline from the $100.33 billion in 2022.  

The decrease was ascribed to a 41% operational downturn and a 1% adverse effect from fluctuations in foreign exchange rates, with the decline in revenue further influenced by diminished worldwide sales of its COVID-19 vaccine, Comirnaty, and the antiviral medication, Paxlovid.  

Notwithstanding the general decrease, Pfizer’s financials, excluding Comirnaty and Paxlovid, demonstrated a 7% increase in operational performance.  

The net earnings for the entire year of 2023 amounted to $2.11 billion, marking a 93% decrease from the $31.37 billion reported in 2022.  

David Denton, a leading officer at Pfizer, stated, “We are pleased with the strong 8% operational revenue growth of Pfizer’s non-Covid products in the fourth quarter of 2023, achieving our full-year 2023 non-Covid operational revenue growth target of 6% to 8%.” 

© Copyright 2010-2021 Zenopa LTD. All Rights Reserved.