Pfizer Faces Pressure Amid Waning COVID-19 Wave

U.S. health experts anticipate a smaller wave of COVID-19 cases this winter, potentially impacting Pfizer's non-COVID treatments. With COVID sales falling, Pfizer's stock remains under pressure. Analysts predict changes in Pfizer's earnings and anticipate subdued investor response to diminished COVID product volumes.

Health experts predict a diminished wave of COVID-19 cases in the U.S. this winter, putting additional pressure on Pfizer to focus on growth from its non-COVID treatments.

Pfizer's COVID sales, peaking at nearly $60 billion, are anticipated to drop, prompting investor concern about non-COVID product performance. The company's stock trades at about $26.50, half of its pandemic high.

Paxlovid and COVID vaccine sales are expected to constitute a smaller portion of Pfizer's revenue. Analysts forecast modest stock improvements, citing diminished COVID case immunity, but await new variants to affect market dynamics.

(With inputs from agencies.)