Here's Why Pfizer's COVID Revenue Could Remain Strong Next Year
This year will undoubtedly be a strong one for Pfizer (NYSE: PFE). The COVID-19 vaccine maker is going to get a huge boost in sales this year, which management expects to come in the neighborhood of $100 billion. More than half of that will come from sales of its COVID-19 vaccine (Comirnaty) and pill (Paxlovid), which together will contribute approximately $54 billion.
Despite the implied 23% revenue growth, the stock's performance has been underwhelming. Shares of Pfizer are down 9% year-to-date, which is only slightly better than the S&P 500's slide of 13% during that time. Investors may not be convinced about how well the healthcare company will do in 2023.
But there's an encouraging development that could potentially mean COVID-19 revenue stays strong beyond just this year. Let's take a closer look.
Source Fool.com
