Here's Why Pfizer Will Bounce Back This Year
It's been a challenging time recently for Pfizer (NYSE: PFE). The pharmaceutical giant has seen its shares plummet 18% this year -- and they are trading only slightly higher than their 52-week low.
The market appears to accept as a foregone conclusion that the company's revenue will drop sharply because of the receding pandemic. Sales of Comirnaty, its COVID-19 vaccine, are expected to decline 64% this year, and Paxlovid, its COVID-19 therapy, is expected to see revenue fall 58%.
It's hard to disagree with that concern, particularly as those numbers were from the company's own guidance. At the same time, Pfizer has set itself up for long-term success via its huge pipeline. Just so far this year, the company has seen two Food and Drug Administration (FDA) approvals and an emergency use authorization (EUA) for its COVID-19 booster vaccine.
Source Fool.com
