Pfizer keeps COVID sales forecast unchanged as pandemic curbs ease: Reuters

Pfizer’s shares were down about 1.2 percent in premarket trading (Shutterstock)
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Updated 03 May 2022
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Pfizer keeps COVID sales forecast unchanged as pandemic curbs ease: Reuters

Pfizer Inc. maintained sales forecasts for its COVID products on Tuesday after a series of hikes to the sales outlook for its COVID-19 vaccine last year, in a sign that dizzying growth has slowed, according to Reuters.

Several countries across the globe have eased pandemic-linked restrictions and relaxed rules related to masking and quarantines, even as cases rise in some regions.

Diminished concern over COVID among both patients and governments could generate uncertainty over Pfizer’s ability to exceed sales forecasts for its vaccine and pill, Citi analyst Andrew Baum said in a research note.

The company said it expects $22 billion in sales of its COVID pill Paxlovid this year, compared with analysts’ average expectation of $26.1 billion.

Pfizer had previously said its forecast for $22 billion in Paxlovid sales only represents a fraction of the 120 million courses the company is able to manufacture this year.

The company’s reluctance to lift that forecast could suggest a dearth of new sales contracts for the pill during the first quarter.

In prepared remarks for the company’s conference call with investors, Chief Executive Albert Bourla said the company had seen a significant pickup in the drug’s use in the United States recently, and that some countries experiencing recent outbreaks had asked for more treatment courses.

“We expect the recent trends to expand access, as well as inquiries received from governments as the virus mutates and causes spikes in infections around the world, to result in increased orders in the coming months,” Bourla said.

The drugmaker also reiterated its forecast of $32 billion in sales from the vaccine it developed with BioNTec. It had raised the forecast for the vaccine’s sales every quarter in 2021.

Pfizer expects to submit data supporting authorization of a three-dose regimen of the vaccine for children under the age of 5 to US regulators by early June. The US Food and Drug Administration has already scheduled meetings later in June to consider authorization in that age group.

The company is also working on a potential update of its vaccine to combat the omicron variant of the coronavirus, which it hopes will help provide broad coverage in the fall.

Pfizer earned $1.67 per share excluding items in the first quarter, according to Refinitiv, beating estimates for $1.47 per share.

Sales of the COVID-19 vaccine were higher than analysts had forecast in the quarter as they had been booked earlier, according to SVB Securities analyst Mani Foroohar. Foroohar said that the front loading of sales was “a clear signal of slowing in the vaccine end market.”

Pfizer’s shares were down about 1.2 percent in premarket trading.


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
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The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.