Meanwhile, Pfizer's Worldwide Sales Lines... Disappointed By ~10%, Even As EPS Was Slightly Ahead Of Expectations.

As we suggested last week, the two companies are diverging: Merck is on an upswing -- while Pfizer may be forced to cost cut, and re-trench as sales of COVID arena products (vaccines and therapeutics / pills) see a steep fall-off, at the revenue lines (even net of foreign currency adjustments). And that would be in addition to, and beyond. . . the actions announced last week.

Again, Pfizer in more than doubling Merck at the quarterly overall sales line, but is bringing far less of that cash down to the bottom line -- as it is seeing aggregate margin erosion:

. . .Pfizer reported second-quarter sales of $12.73 billion, down 54% from the same period a year ago. . . .

The company’s Covid vaccine raked in $1.49 billion in sales, down 83% from the year-ago quarter. Pfizer’s Covid antiviral pill Paxlovid posted $143 million in revenue, a drop of 98%.

Together, the products pulled in $1.6 billion in revenue for the quarter. That compares with roughly $17 billion in sales during the same period a year ago. . . .

This may well mean additional cost cutting / headcount reductions are in the cards in the coming quarters, at the behemoth. We shall see. Now you know. . . off to a grinning, and sunshine dappled, bike ride by the clear lake waters. . . .



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