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Shares tumble on gloomy forecast
Posted 17 December 2024 PM
Pfizer has cut its 2026 revenue forecast thanks to an expected US$1.5 billion decline in sales of its COVID products plus a further $1.5 billion hit from loss of exclusivity, sending its share price tumbling.
Growth is likely to elude the company for some time yet with drugs in its portfolio coming off patent set to cost an eye-watering US$17 billion by 2030.
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Posted 17 December 2024 PM
Pfizer has cut its 2026 revenue forecast thanks to an expected US$1.5 billion decline in sales of its COVID products plus a further $1.5 billion hit from loss of exclusivity, sending its share price tumbling.
Growth is likely to elude the company for some time yet with drugs in its portfolio coming off patent set to cost an eye-watering US$17 billion by 2030.
To see the whole article, please login
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