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Pfizer India
Drug firm Pfizer on Friday said its net profit declined by 2 per cent to Rs 128 crore for the third quarter ended December 31, 2024. The company had reported a net profit of Rs 130 crore in the October-December period of last fiscal. Revenue from operations declined to Rs 538 crore in the third quarter as compared with Rs 540 crore in the year-ago period, Pfizer Ltd said in a regulatory filing. Shares of the company on Friday ended 0.43 per cent up at Rs 4,536.05 apiece on BSE.
India's first indigenously developed COVID-19 vaccine, Corbevax, has been granted an Emergency Use Listing by the World Health Organisation, the company which manufactures it in India said here on Tuesday. Corbevax is based on a protein sub-unit platform and manufactured by the pharmaceutical firm Biological E Limited in India. Mahima Datla, Managing Director of Biological E Ltd said: We are pleased with the WHO Emergency Use Listing (EUL) because it would help us use the platform to continue developing COVID-19 vaccines as and when it starts impacting public health. We are confident that this endorsement from WHO will bolster our global fight against COVID-19.'' The Drugs Controller General of India (DCGI) had already approved Corbevax for restricted use in emergency among adults, adolescents and young children in a sequential manner from December 2021 to April 2022. It was also given approval for use as India's first heterologous COVID-19 booster shot for adults aged 18 and above
Drug firm Pfizer Ltd on Saturday reported 52.11 per cent decline in net profit at Rs 148.96 crore for the second quarter ended September 2023. The company had logged a net profit of Rs 311.07 crore in July-September period a year ago, according to a regulatory filing by Pfizer. Revenue from operations declined 9.76 per cent to Rs 575.21 crore in the quarter as against Rs 637.47 crore in the year-ago period. Total expense was at Rs 410.76 crore, down 5.66 per cent. Total income was at Rs 611.28 crore in September quarter 2023-24, down 7.62 per cent.
Shares of Pfizer are in retreat on the first day of trading after the drug company said sales of its COVID-19 vaccine and its coronavirus treatment are in less than expected and cut revenue expectations for the year by USD 9 billion. Falling sales of both clipped sales in the second quarter, but Pfizer said in August that it expected a rebound in the second half of 2023. Shares of Pfizer slid nearly 3 per cent before the opening bell Monday and Moderna, which makes a competing vaccine, slid as well. The company said Friday that global usage of Paxlovid is trending slightly above last year, but that it's still below expectations. The fall vaccination period just began and the New York City drugmaker said that it's too soon to get a handle on vaccination rates for the year. Full-year revenue for Paxlovid and Comirnaty is expected to be approximately USD 12.5 billion, short USD 9 billion of what it had expected. Pfizer is lowering its full-year revenue expectations for Paxlovid by .