Pfizer stays the course on 2024 outlook after delivering better earnings than Wall Street forecast

Pfizer turned in a better-than-expected fourth quarter, boosted by products outside the drugmaker’s slumping COVID-19 vaccine and treatment. The New York drugmaker on Tuesday also reaffirmed its forecast for 2024, a month after surprising Wall Street with an outlook that missed consensus. In the fourth quarter, Pfizer booked 8% operational revenue growth outside its market-leading COVID vaccine, Comirnaty, and treatment, Paxlovid. That excludes the impact of foreign exchanges. Comirnaty sales tumbled 53% in the quarter to $5.4 billion. Pfizer also took a $3.1 billion hit from Paxlovid for a revenue reversal.