Pharmaceutical giant Pfizer slashed its profit and revenue estimates for a full year as it said that demand for COVID-19 vaccines and other products has dropped.
The firm now expects 2023 sales of $58 billion to $61 billion, down from previous forecasts of $67 billion to $70 billion, according to its guidance report that was released on Friday, Oct. 13. The revenue outlook was slashed, it said, "solely due to its COVID products" such as its vaccine and antiviral drug.
It anticipates that sales of its COVID-19 vaccine will be about $2 billion lower than its previously expected forecast due to lower-than-expected rates of people taking the mRNA shot. The firm's latest COVID-19 booster was made available by U.S. federal regulators last month, but the rollout has been relatively slow—with only about 2 percent of Americans taking any of the vaccines, according to Centers for Disease Control and Prevention's (CDC) data.
The company also reduced its guidance or Paxlovid, an antiviral drug that targets COVID-19, by about $7 billion, it said.
With the revised guidance, Pfizer’s stock closed down about 2 percent to $32.11 on Friday, another decline in the pharmaceutical company's shares. Meanwhile, shares of the New York-based company were down about 7 percent in extended trading. At the start of 2023, the company's stock was trading at around $50.
Pfizer earned record revenue in 2021 and 2022, topping $100 billion last year, after developing its vaccine Comirnaty with German partner BioNTech SE and antiviral treatment Paxlovid on its own. Last year, revenue from those two products exceeded $56 billion.
"We remain proud that our scientific breakthroughs played a significant role in getting the global health crisis under control," Pfizer CEO Albert Boura said in a statement Friday. "As we gain additional clarity around vaccination and treatment rates for COVID, we will be better able to estimate the appropriate level of supply to meet demand."
Pfizer said it would take a non-cash charge of $5.5 billion in the third quarter to write off $4.6 billion of Paxlovid and $900 million of inventory write-offs and other charges for the vaccine.
It will also embark on a cost-cutting program, which will target savings of at least $3.5 billion annually by the end of 2024 and will include layoffs, the company said, without providing details on how many jobs will be cut or from what areas. One-time costs to achieve the savings are expected to be around $3 billion.
Pfizer said that under a deal with the U.S. government, a credit for the returned Paxlovid doses will underwrite a program to supply the drug free-of-charge to uninsured and underinsured Americans through 2028 and to patients insured under the government's Medicare and Medicaid programs through the end of next year.
Pfizer will also provide the U.S. government with one million courses of Paxlovid for the Strategic National Stockpile. The company expects the drug will become commercially available to people with private insurance in Jan. 1.
But the company's guidance last week provides new insight into COVID-19 vaccination rates, which the CDC stopped reporting in May 2023.
In a recent statement, the CDC said that some 7 million Americans have received booster shots made by Pfizer, Moderna, and Novavax. The agency did not break down the figures by how many received each vaccine in its recent statement, issued Oct. 12. However, the 7 million figure represents about 2 percent of all Americans.
“COVID-19 vaccine distribution, which has shifted to the private market, is a lot different than it was last year when the government was distributing them," said a spokesperson for the Department of Health and Human Services (HHS) about the newest vaccination data. The spokesperson added that the agency is "directly with manufacturers and distributors to ensure that the vaccines are getting to" various locations.
Prior CDC and HHS data has shown that about 17 percent of the U.S. population got previously updated vaccines, representing around 56.5 million people.
Despite the recent push for the latest vaccines, data provided by the CDC shows that hospitalizations for COVID-19 have been down for about three consecutive weeks.
For the ending Sept. 30, the hospitalization rate is down by 6 percent, while emergency department visits are down by 14.5 percent, and COVID-19 cases are down 1.2 percent, the figures show. Deaths are up 3.8 percent, although health officials have previously said that deaths generally lag behind hospitalizations and case numbers.
In July, COVID-19 hospitalizations had been increasing for several consecutive weeks. CDC historical data suggest that deaths have been relatively low compared with previous years.
Base Spike Detox According to Dr Peter McCullough (in a Twitter post - July 2023): Base Spike Detox is what I am currently using in my practice for those who have had COVID-19 multiple times, one or more of the COVID-19 vaccines, or both and believe persistent SARS-CoV-2 Spike protein could be causing problems in their body. A major publication is under review and editing; however, the information is far too important to hold back. Update (Nov 2023): Published on August 25, 2023 in Journal of American Physicians and Surgeons. CLICK HERE FOR THE COMPLETE PAPER > Base Spike Protein Detoxification and on November 21, 2023 in Cureus (PubMed - November 2023) I have arrived, based on the emerging scientific literature and my clinical observation, that three OTC products are essential as a triple base combination: Nattokinase 2000 FU (100 mg) twice a day Bromelain 500 mg once a day Nano/Liposomal Curcumin 5
Dr. Peter McCullough is an internist, cardiologist, epidemiologist, a full professor of medicine at Texas A&M College of Medicine in Dallas, USA. He also has a master's degree in public health and is known for being one of the top five most-published medical researchers in the United States and is the editor of two medical journals. McCullough Protocol 2022 Updates: Double blind randomized controlled trial of saline solution gargling and nasal rinsing in COVID infection (Nov 2023) What really killed COVID-19 patients: It wasn't a cytokine storm, suggests study (2023) Everyone is familiar with nasal and oral swab testing for COVID-19. It should be obvious the virus is replicating in the nose, and with Omicron, the speed of replication has become much greater than the pri
Well-respected North Texas cardiologist, Dr. Peter McCullough has impeccable academic credentials. He's an internist, cardiologist, epidemiologist, a full professor of medicine at Texas A&M College of Medicine in Dallas. He also has a master's degree in public health and is known for being one of the top five most-published medical researchers in the United States and is the editor of two medical journals. McCullough et al. Reviews in Cardiovascular Medicine, 2020 McCullough Protocol 2022 Updates: Omicron variant XBB found to be resistant to monoclonal antibody treatments ( New England Journal of Medicine . Dec 2022) How to Detox Spike Protein from Body (August 2023) As published in Dr
Is povidone iodine the next ivermectin or hydroxychloroquine? Is there any evidence that povidone iodine can treat COVID-19? Iodine 1% Nasal Spray is part of the FLCCC I-CARE early treatment protocol : Nasal spray with 1% povidone-iodine: 2-3 times a day. Do not use for more than 5 days in pregnancy. If 1% product is not available, dilute the more widely available 10% solution and apply 4-5 drops to each nostril every 4 hours. Use 1 % povidone iodine commercial product as per instructions 2–3 x daily. If 1 %-product not available, must first dilute the more widely available 10 %-solution. To make 1% povidone iodine concentrated solution from 10% povidone iodine solution, one dilution method is as follows: – First pour 1½ tablespoons (25ml) of 10% povidone/ iodine solution into a nasal irrigation bottle of
Biography Well-respected North Texas cardiologist, Dr. Peter McCullough has impeccable academic credentials. He's an internist, cardiologist, epidemiologist, a full professor of medicine at Texas A&M College of Medicine in Dallas. He also has a master's degree in public health and is known for being one of the top five most-published medical researchers in the United States and is the editor of two medical journals. Personal History Dr. Peter A. McCullough was born in Buffalo, New York, on the 29th of December 1962. During high school, he and his family moved to Wichita Falls in Texas and later settled in Grapevine. He has lived and worked in various parts of the United States, including Washington and Michigan, and he now resides in Dallas, Texas. McCullough Protocol 2022 Dr Peter McCullough Early Treatment Protocol
Treatment should start based on clinical suspicion as soon as possible, preferably within the first 3 days of symptoms. Perform PCR testing, but do not withhold treatment pending results. 'Early' treatment will make significant difference in outcome as opposed to late treatment. To assist all who are having difficulty finding pharmacists to fill prescriptions for ivermectin or hydroxychloroquine (Plaquenil) for preventing or treating COVID-19 , check out Find a Pharmacy to fill Ivermectin (US). See the directory of professionals in US below. Directory of Doctors (by State) Prescribing Effective Outpatient COVID-19 Therapy USA MULTIPLE STATES (Telemedicine or online consultation) The Wellness Company ( twc.health ) Medical Specialty: Family Medicine, Functional Medicine Supported Protocols: I-PREVENT (COVID Protection), I-CARE (Early at-home treatment), I-RECOVER (Long COVID and Post-Vaccine treatme
Over the last three years, the COVID-19 pandemic has transformed almost every aspect of our lives before we've had time to stop and question it. Although no official definition exists for post-COVID-vaccine syndrome, a temporal correlation between a patient receiving a COVID-19 vaccine and beginning or worsening of clinical manifestations is sufficient to diagnose as a COVID-19 vaccine-induced injury, when the symptoms are unexplained by other concurrent causes. Dr. Paul Marik and Dr. Pierre Kory are pleased to introduce the I-RECOVER: Post-Vaccine Treatment protocol, designed to help people who have experienced adverse symptoms after a COVID vaccine. Kory and Marik are both part of the FLCCC, which was founded in 2020 to share early treatment protocols for COVID-19. Kory is an ICU specialist, triple board certified in internal medicine, critical care and pulmonary medicine. He now runs a private tele-health practice specializing in the treatment of COVID-19, so-called
SELF-HELP without a Doctor ( source ) Zinc 50 mg daily (can take half twice daily if upset stomach) Quercetin 500 mg twice a day three times a day if sick (switch to HCQ/IVM if available) Vitamin D3 40,000-50,000 for five days Melatonin 5 mg - 20 mg nightly for 14 days stomach) Pepcid 40-80 daily 14 days – women or Cimetidine 400 daily -men Full Aspirin (325 mg) daily one month N acetyl cysteine (NAC) Up to 2000-2400 mg 1-2 days, then 1000-1200 mg for a week Treatment: Latest Prescriptions ( source ) Monoclonal Antibodies: outpatient, FDA approved, early treatment, within 10 days Only. Note and Update: Omicron variant XBB found to be resistant to monoclonal antibody treatments ( New England Journal of Medicine . Dec 2022) HCQ 200 mg twice a day 7 days or IVM (weight based 0.4/kg) 20-36 mg daily 2-5 days Fenofibrate (Tricor – anti-lipid) 145 mg daily (inflammatory/cytokine phase. Antioxidant) Cyproheptadine (Periactin – antihistamine) 4 mg BID for 14 days (cytokine phase) D
A November 2023 study (Yale University) shows some of the most common chronic symptoms among people who began experiencing the problems after receiving a COVID-19 vaccine. The most common symptoms were exercise intolerance, excessive fatigue, numbness, brain fog, and neuropathy, researchers reported in the paper. Insomnia, palpitations, myalgia, tinnitus, headache, burning sensations, and dizziness were also experienced by at least half of the participants in the study, which was funded in part by the U.S. National Institutes of Health (NIH). Participants reported a median of 22 symptoms, with a ceiling of 35. The study focused on people "who report a severe, debilitating chronic condition following COVID-19 vaccination" that "began soon after COVID-19 vaccination and persisted in many people for a year or more," the researchers said. The study was led by Dr. Harlan Krumholz of the Department of Internal
Dr Peter McCullough's Spike Detox Protocol (Substack) According to Dr Peter McCullough's substack article : For several weeks I have been messaging the scientific community and the public about an approach addressing the burden of SARS-CoV-2 Spike protein in tissues and organs in the human body that is largely responsible for post-COVID and vaccine injury syndromes. No therapeutic claims can be made since large, prospective, double-blind randomized, placebo-controlled trials have not been completed on any of the compounds mentioned in this paper. I checked clinicaltrials.gov and no such trials have been planned. The Biden HHS US Action Plan for Long-COVID Research has pumped a billion dollars into long-COVID research and no new therapies have emerged. HHS, NIH, CDC, FDA have not recognized the larger issue of vaccine damage to the body. At three and one half years into the pandemic and two and a half years into the COVID-19 vaccine debacle, myself and my clinic partners formul