Pfizer reported a robust fourth-quarter performance, with earnings and revenue surpassing Wall Street’s expectations. The company’s net income reached $410 million, or 7 cents per share, a significant turnaround from the previous year’s $3.37 billion loss. Adjusted earnings per share were 63 cents, excluding one-time items. Revenue climbed to $17.76 billion, a 22% increase from the prior year. This growth was driven by strong sales of Covid-related products, with Paxlovid generating $727 million and the Covid vaccine bringing in $3.4 billion. Despite a decline in global Covid vaccinations, demand for these products exceeded forecasts. Excluding Covid products, revenue still grew by 12%, bolstered by acquisitions like Seagen, whose cancer drugs contributed $915 million. Other notable performers included Vyndaqel, with sales up 61% to $1.55 billion, and Eliquis, which saw a 14% increase to $1.83 billion. However, sales of the RSV vaccine, Abrysvo, fell short at $198 million due to narrower market recommendations. Pfizer anticipates $4.5 billion in cost savings by 2025 and projects 2025 sales between $61 billion and $64 billion.
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