Vaccine Stocks Tumble as Pfizer Slashes Outlook
TL;DR Summary
Stocks of Pfizer, BioNTech, Moderna, and Novavax fell in premarket trading as demand for Covid vaccines plummeted, leading to a change in fortune for the sector. Pfizer slashed its revenue forecasts due to sliding demand for its Covid-19 products, including its mRNA shot and antiviral drug Paxlovid. The company also announced a $3.5 billion cost-cutting program. Moderna, which heavily relies on its Covid-19 vaccines, will report its quarterly earnings soon and is vulnerable to sliding demand.
- Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand Forbes
- Pfizer cuts guidance on slumping COVID vaccine, treatment sales Yahoo Finance
- Pfizer's COVID outlook cuts hit other vaccine maker shares Yahoo Finance
- Pfizer's earnings cut was 'sort of telegraphed', says E Squared's Les Funtleyder CNBC Television
- Moderna, BioNTech Leads Covid Sell-Off After Pfizer Slashes Outlook Investor's Business Daily
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