Pfizer has lost $88billion in market share and $144billion in value since its market peak in just one year as the drugmaker suffers a major hangover from the success of its COVID vaccine.
The pharmaceutical giant enjoyed a record $100billion in sales last year, powered by its COVID vaccine and drug.
But after becoming the first pharma firm to break the billion-dollar barrier, its performance has fallen off a cliff this year.
The company’s role in alleviating the worst of the pandemic has meant it has become a victim of its own success, as demand for its COVID products dwindles along with serious cases of the virus.
Shares are down 31 percent this year to date, a loss of more than $88billlion in market capitalization.
Pfizer’s valuation has dropped by $144billion since its 2021 peak.
This cycle is not unusual for pharmaceutical giants, which often suffer peaks and troughs when patents for their drugs expire.
Pfizer itself has endured similar sales drops in the past for Viagra and its anti-cholesterol drug Lipitor.
But its current plight has been exacerbated by its decision to slim down and become a growth stock, according to The Wall Street Journal......
=-=-=-=-=-=-=
NN SEZ: This is obviously a Pfizer press release or something that Reddit posted and EU Times simply reprinted -- nothing wrong with that. It's obviously from an establishment view but sounds like great news for our kind.
I'm assuming we can assume from its wikid page that 88 or 144 billion means something to Pfizer -- its revenues were 100bn and its net income 31bn in 2022:
This story comes by way of an excellent site I want y'all to keep in rotation -- EU-TIMES.COM. It's been chugging away in tragic obscurity for many, many years. Spread the world please -- help it grow! Mmmm, "Putin cancels South Africa visit after ICC arrest" -- that's-a nice sauce.
#1: strepsiptera To: NeoconsNailed (#0)
The virus has not gone away. According to sewage testing covid has doubled in the last 4-6 weeks.
strepsiptera posted on 2023-08-10 13:17:53 Reply Private Reply
#2: strepsiptera To: NeoconsNailed (#0)
strepsiptera posted on 2023-08-10 13:30:33 Reply Private Reply
#3: strepsiptera To: NeoconsNailed (#0)
CDC data shows that over the past month COVID-19 hospitalizations have climbed from 6,450 to 9,056 admissions per week, an increase of 40 percent.
The Walgreens COVID-19 index now shows a nationwide positivity rate of 44.7 percent, the highest rate since the start of the pandemic. While testing is down dramatically, this elevated figure is a clear sign that a surge is underway. Southern and Southwestern states like Florida, Alabama, Texas, New Mexico, Nevada and California are most impacted, likely due to the heat wave driving people indoors, with test positivity rates above 50 percent in each state.
strepsiptera posted on 2023-08-10 17:34:13 Reply Private Reply
#4: strepsiptera To: NeoconsNailed (#0)
Testing, treatments and vaccines are being completely privatized and sold at marked-up prices that are unaffordable for the vast majority of the population. Under the private market, updated vaccines will not be available in the US until October at the earliest—well after the current surge —and later or never throughout the rest of the world.
Whatever limited media coverage or official statements are made on the present wave of the pandemic, they all seek to downplay its significance. In particular, there is a concerted effort to ignore the scientifically proven aftereffects of COVID-19 infections, including prolonged symptoms known as Long COVID and increased risk of medical emergencies, such as heart attacks and strokes, which are rarely recorded as official COVID-19 deaths.
strepsiptera posted on 2023-08-10 17:38:13 Reply Private Reply
#5: BTP Holdings To: NeoconsNailed (#0)
I was in the Health Department building several months ago to see the woman in Economic Security for help with heating last winter.
There was a couple there who had just received the free Covid shot that was being offered. They were BOTH wearing masks.
This tells me they were BOTH hypochondriacs. ;)
BTP Holdings posted on 2023-08-10 17:45:26 Reply Private Reply
#6: NeoconsNailed To: strepsiptera (#1)
NeoconsNailed posted on 2023-08-10 21:24:04 Reply Private Reply
#7: NeoconsNailed To: strepsiptera (#2)
NeoconsNailed posted on 2023-08-10 21:26:10 Reply Private Reply
#8: NeoconsNailed To: BTP Holdings (#5)
NeoconsNailed posted on 2023-08-10 21:33:11 Reply Private Reply