Pfizer’s 2022 Outlook Falls Short of Expectations
February 8, 2022
Pfizer Inc. expects to generate record revenues this year for COVID vaccine and its anti-viral pill. Still, the full year outlook falls short of consensus forecasts. The news sparked a sell-off in shares of the drugmaker. Financial Times reporter Jamie Smith asked our Kevin Gade to offer his perspective on the challenge Pfizer faces in meeting lofty growth expectations:
“Kevin Gade, portfolio manager at Bahl & Gaynor, said the missed guidance on Covid products sales may reflect a conservative steer from Pfizer, as it tends to guide numbers on doses it has already contracted to sell. But it could also reflect that the pandemic had peaked and demand may be lower in the future for vaccines and boosters, he said.
‘We applaud Pfizer for winning Covid, but can they take the dollars from here and improve the base business?’ he said.”
Kevin T. Gade, CFA, CFP
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