Pharma Giant Pfizer Looks Strong for Investors, Despite COVID Sales Drop
Pharma giant Pfizer (NYSE: PFE), is the co-developer with Germany's BioNTech (NASDAQ: BNTX) of one of the international vaccines against COVID-19. The pair has seen much success from the COVID-19 vaccine with it contributing the bulk of Pfizer's operational growth of 30% year over year, bringing the 2022 sales to roughly $100 billion. Now, the pharma looks set for significant growth powered in part by vaccines for other high-profile infectious diseases.
Let's examine some key data for investors to consider.
Sales growth was notable in 2022, however, excluding the vaccine, which goes under the brand name Comirnaty, and the COVID-19 treatment Paxlovid, growth was just 2%. Adjusted diluted earnings per share (EPS) rose by a strong 62% for the year to $6.58, and unadjusted diluted EPS was up 42% to $5.47. In 2023, Pfizer expects revenues of about $13.5 billion for Comirnaty and about $8 billion for Paxlovid, which would amount to declines of 64% and 58%, respectively.
Source Fool.com
