US Government sends back unused C19 drug – Paxlovid – to Pfizer – which registers its first quarterly loss since 2019
From here:
Pfizer reports 1st quarterly loss since 2019 on weak COVID product demand - National | Globalnews.ca
“As announced earlier this month, the company recorded a $5.6 billion one-time charge to account for the U.S. government returning millions of doses of its antiviral treatment Paxlovid, as well as inventory of its vaccine Comirnaty.”
Seems like Dr Drew is one of the few medics that think Paxlovid is useful!
You can check out Naomi Wolf’s take of Fauci experimenting on bats in Montana with the C19 virus in 2018 and Pfizer’s financial woes here:
Naomi Wolf Joins WarRoom To Give An Update On Dr. Fauci Corruption (rumble.com)
“A drop in the use of vaccines and products as the pandemic receded has fueled a 40 per cent drop in Pfizer’s shares this year and could remain a drag going forward, analysts have said. The stock fell about two per cent in early trading.”
Hmm. I wonder if there is any mention in Pfizer’s financials of the risks of major law suits arising from the millions of deaths and billions of harms caused by its toxic and contaminated experimental C19 injections?
Pfizer (PFE) Q3 earnings report 2023 (cnbc.com)
“The pharmaceutical giant also reiterated the full-year adjusted earnings and revenue guidance it announced two weeks ago amid weakening demand for coronavirus products. That decline in demand also led Pfizer to announce a sweeping $3.5 billion cost-cutting plan at the same time.”
“Pfizer said it recorded a $5.6 billion charge for inventory write-offs in the third quarter due to lower-than-expected use of Covid products. Of these previously announced write-offs, $4.7 billion is chalked up to Paxlovid and $900 million is attributed to the company’s vaccine.”
Well, well. Since the buyer of Paxlovid was the Federal government, it follows that the Federal government has said “we don’t want your steenking pills”!
“Paxlovid posted $202 million in revenue, a drop of 97%. Analysts had expected $613.5 million in sales of the drug, according to FactSet estimates.”
“Meanwhile, the pharmaceutical giant expects its Covid antiviral treatment Paxlovid to bring in $1 billion in revenue. Pfizer has agreed to take eight million Paxlovid courses back early from the U.S. government, which is part of an effort to get more higher-priced sales of the drug on the commercial market.”
Agreed to take 8 million Paxlovid courses early??? You mean they were always going to take them back and agreed to free up some Federal warehouse space in a gesture of goodwill?
Maybe Pfizer just sugar coated ivermectin with a brand name, not as if any regulator anywhere would have noticed.
“Here’s what Pfizer reported for the third quarter compared to what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:
· Loss per share: 17 cents, adjusted vs. 34 cents expected
· Revenue: $13.23 billion vs. $13.34 billion expected
“Pfizer reported third-quarter revenue of $13.23 billion, down 42% from the same period a year ago, due to the decline in sales of its Covid products.”
Interesting. A 42% revenue decline - as expected - but earnings per share 51 cents lower than expected.
Still, Pfizer’s other product launch for RSV sold a fair amount:
“The company said that growth was partly fueled by its new vaccine against respiratory syncytial virus, which entered the market during the quarter for seniors and expectant mothers. The shot, known as Abrysvo, posted $375 million in sales for the period. “
Apparently the FDA wants pregnant women to get injected with the stuff 32-36 weeks into pregnancy which seems awfully specific!
Here’s a comparison with the other competitor.
What is the difference between Arexvy and Abrysvo? (drugs.com)
“Abrysvo is also approved for use in pregnant women between 32 through 36 weeks gestation, to protect infants against LRTD from the moment they are born until they are 6 months of age, making it the first RSV vaccine to be FDA-approved for this purpose.”
Eliquis posted $1.49 billion in revenue, Vyndaqel drugs revenue was 892 million bucks, shots against pneumococcal pneumonia took in $1.85 billion. Eliquis is about to enter negotiations on price with Medicare.
Pfizer’s share price is holding its own post its shock quarterly loss.
Onwards!
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How on earth can Pfizer's share price even be "holding its own" at this stage? Do its shareholders know something we don't? Is it possible to get names of shareholders? I'm thinking Dr Drew has gotta be one!