Pfizer cuts earnings outlook on lower Covid-19 drug sales ...Middle East

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NEW YORK: The US pharmaceutical giant Pfizer sharply scaled back its earnings outlook for the year, blaming lower-than-expected sales of two drugs used to treat Covid-19, the company said Friday.It now “anticipates full-year 2023 revenues to be in the range of $58.0 to $61.0 billion, versus its previous guidance range of $67.0 to $70.0 billion,“ Pfizer announced in a statement.Earnings per share - the benchmark for the markets - should come in at between 1.45 and 1.65 dollars, compared with 3.25 to 3.45 dollars previously anticipated.The cut to Pfizer’s guidance was “solely due to its COVID products,“ the company said.“Full-year 2023 revenues for Paxlovid and Comirnaty are expected to be app

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