Pfizer forecasts 2024 revenue below Wall Street expectations
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New York: Pfizer on Wednesday forecast 2024 revenue that was below Wall Street expectations and raised its cost-cut target by $500 million.
The U.S. drugmaker expects its annual revenue to be in the range of $58.5 billion to $61.5 billion compared with analysts' average estimate of $63.17 billion. It includes the contribution from sales of Seagen's products.
Sales of Paxlovid and the vaccine Pfizer makes with German partner BioNTech had boosted revenue over the last two years, helping it generate more than $100 billion in 2022.
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