Pfizer (NASDAQ: $PFE) is the largest and most well-known pharmaceutical company globally. Pfizer is involved in researching, developing, manufacturing, and marketing of a wide range of prescription medications, vaccines, and consumer healthcare products. The company has 170 years of vast history in the pharmaceutical industry and is known for producing high-quality medications across various therapeutic areas, including cardiovascular, oncology, immunology, and infectious diseases.
One of the recent achievements of this company was the development of a COVID-19 vaccine, known as BNT162b2, in collaboration with the German company BioNTech. It was approved in August 2021.
The biopharmaceutical company announced on Wednesday, the 3rd of January, that Canada has received approval for its gene therapy for treating hemophilia B, a rare inherited bleeding disorder. It is a rare genetic disorder that disturbs the blood efficiency to clot and is most commonly observed in males.
Canada has granted approval ahead of an anticipated decision by the U.S Food and Drug Administration, scheduled for the second quarter of 2024. For more than a year, U.S regulators also approved CSL’s Hemgenix, the initial one-time gene therapy for hemophilia B.
Pfizer Welcomes Public for Webcast
The company has invited investors and people for the webcast, which will involve a conversation with Albert Bourla, Chairman and Chief Executive officer, at the 42nd Annual J.P Morgan Healthcare Conference. It will be held on Monday, January 8th, 2024 at 3 PM PST. You can access to the broadcast from here.
Pfizer Expectations in 2024
Pfizer’s projections indicate that its revenue for the upcoming year might decline or remain steady compared to 2023. The company anticipates a revenue range of $58 billion to $61 billion for the current year.
Moreover, according to CNBC, Pfizer also said that it expects a $5 billion in revenue from its Covid vaccines and anticipates $3 billion from its antiviral medication Paxlovid. The company CFO, Dave Denton, says, “While we do not expect Covid vaccination and infection rates to change materially in 2024 versus this year, we have set our Comirnaty and Paxlovid 2024 revenue expectations lower.”
Pfizer Stock Update: $PFE
At the time of writing, the company’s stock $PFE is currently trading at $29.23, downed by 1.65% in 24 hours as of 11:24 AM EST. PFE ended the trading session at $29.73 per share. The market cap is $164.932B, with a volume of 14,743,991.
Conclusion
Pfizer is one of the oldest companies working for wellness and on innovative healthcare products to better treat patients suffering from different diseases. Recently, Canada has approved their developed gene therapy for a rare disorder, Hemophilia B. The stock’s is moving higher since December 15th, 2023. Additionally, the company is also expecting a steady revenue stream in 2024. PFE would be considered by most as a proper investment in 2024 and beyond.
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