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Pfizer cuts full-year outlook due to declining sales of Covid-19-related products_我的网站

A |     Shares of Pfizer are in retreat on the first day of trading after the drug company said sales of its COVID-19 vaccine and its coronavirus treatment are weaker than it had expected and cut revenue projections by $9 billion for the year. Falling sales of both clipped sales in the second quarter, but Pfizer said in August that it expected a rebound in the second half of 2023. Shares of Pfizer slipped more than 1% before the opening bell Monday and Moderna, which is heavily reliant on the competing vaccine it makes, slid nearly 5%. Pfizer said Friday that global usage of Paxlovid is trending slightly above last year, but that it's still below expectations.The fall vaccination period just began and the New York City drugmaker said that it's too soon to get a handle on vaccination rates for the year.Full-year revenue for Paxlovid and Comirnaty is expected to be approximately $12.5 billion, short $9 billion of what it had expected. Pfizer is lowering its full-year revenue expectations for Paxlovid by approximately $7 billion. That number also accounts for delayed commercialization of the product, which was pushed to January 2024 from the company's previous expectation of commercialization in the second half of this year. Pfizer is also lowering its 2023 revenue expectations for Comirnaty by approximately $2 billion due to lower-than-expected vaccination rates.Pfizer Inc. now foresees 2023 revenue in a range of $58 billion to $61 billion, down from its prior forecast for $67 billion to $70 billion. It now projects full-year adjusted earnings between $1.45 and $1.65 per share due to lower-than-anticipated revenue for COVID-19-related products and inventory write-offs.That is short of the full-year revenue of $63.61 billion and earnings of $2.77 per share that Wall Street was expecting, and far short of the company's previous projections of per-share earning between $3.25 and $3.45. JPMorgan said the company's update solves an ongoing U.S. Paxlovid inventory debate and it anticipates the company's bigger-than-expected cuts to its sales projections will help put a floor under per-share earnings expectations for next year.。    Washington, Oct 15 (UNI) In his latest spat with Kyiv, Elon Musk has said his rocket firm SpaceX cannot continue indefinitely paying for Ukraine's Starlink internet service.

In February, the world's richest man activated his company's satellite internet system in Ukraine to keep its military and people online.

The programme costs $20 million per month to maintain, according to Musk. He has said SpaceX had spent $80 million so far to keep Ukraine online.

But in September, the Tesla owner asked the Pentagon to fund the programme, according to US media. He also recently provoked Kyiv's ire by suggesting it cede territory.

Earlier in October, Musk tweeted out a proposal that Ukraine accept Russia's annexation of Crimea and allow referendums in Ukrainian regions invaded by Moscow. The Kremlin responded positively to the overture.

But Ukraine's outgoing ambassador to Germany, Andrij Melnyk, posted a tweet telling Musk to go away, using a swear word. Responding on Friday to a post referring to the ambassador's remark, Musk said: "We're just following his recommendation."

"SpaceX is not asking to recoup past expenses, but also cannot fund the existing system indefinitely," Musk tweeted on Friday, referring to his space company that makes the Starlink system.

Starlink works by providing broadband internet through a network of satellites. It has proven vital for Ukraine's military as it fights to retake Ukrainian land from Russia, the BBC reported.

Ukraine credited Starlink this week with helping to reboot its infrastructure in key areas following more than 100 Russian missile strikes.

Musk also tweeted that in addition to terminals, "we have to create, launch, maintain & replenish satellites & ground stations. "We've also had to defend against cyberattacks & jamming, which are getting harder."

Ukraine's vice-Prime Minister, Mykhailo Fedorov, downplayed tensions with Musk, writing on Twitter that the billionaire "is among the world's top private donors supporting Ukraine". "Starlink is an essential element of our critical infrastructure," he wrote.

A Ukrainian presidential advisor said that Ukraine will find a solution to keep Starlink working, the BBC reported.

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