Pfizer Misses Sales Estimates as Revenue for Covid-19 Products Drop

Pfizer missed third-quarter estimates as the drugmaker saw more declines for its Covid-19 products. Analysts surveyed by FactSet were expecting Pfizer to report a loss of 8 cents a share on revenue of $13.3 billion. The company said that a decline in Paxlovid and Comirnaty revenue—Pfizer’s Covid-19 medicines—drove a 41% decrease in total third-quarter operational revenue from the prior year.