A lot can change on the stock market in just a few years, and Pfizer (NYSE: PFE) is a great example. At the end of 2021, its shares were trading at around $60, and things were looking great for the COVID-19 vaccine maker. It would go on to hit a record of more than $100 billion in annual revenue in 2022.

Today, however, the stock is below $30 per share. What was once hype and excitement surrounding the stock has now been replaced with fear and concern as investors worry about what the future holds for the business.

Revenue from its COVID-19 products likely won't ever be as strong as it was in 2022. But the problems for Pfizer go even deeper. Here's why.

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Source Fool.com