Pfizer stock (NYSE: PFE) looks to be recession-resistant thanks to government purchases of the COVID-19 vaccine.
Pfizer Inc. (NYSE: PFE), a pharmaceutical company linked to COVID-19 vaccines, has supplied over 367 million immunizations in the United States and over 1.4 billion doses globally since the pandemic started.
With approximately 230 million immunizations, Moderna Inc. (NASDAQ: MRNA) is a distant second.
Pfizer Stock: Paxlovid Fuels Growth
Pfizer is still developing COVID-19 therapeutics for the COVID brand, including Paxlovid, an oral tablet that combats the virus by stopping it from multiplying in the body. It is a three-pill antiviral regimen for persons with COVID-19 and treats those at greater risk (the elderly, diabetics, heart and kidney disease, and cancer patients). Compared to a placebo group, it has been shown to be 89% effective in reducing hospitalizations and deaths. President Joe Biden was the most visible contender to have used the medication. Some individuals, like Biden, undergo “Paxlovid rebound,” in which they test positive for COVID-19 but have no symptoms. This happens in 1% to 2% of people, although the results are still good.
Paxlovid is expected to generate $22 billion, while Comirnaty (a COVID-19 vaccine for vaccination) is expected to produce $32 billion in the last months of 2022. Pfizer agreed to a $3.2 billion contract with the United States government for the autumn immunization campaign.
Pfizer Stock: Earnings are still soaring.
On July 28, Pfizer released its fiscal Q2 results for the quarter ending June 2022. The company reported an EPS profit of $2.04 versus $1.78 consensus analyst estimates, a $0.26 increase. Revenues increased 46.8% year on year (YoY) to $27.74 billion, exceeding analyst expectations of $26.2 billion, thanks to Paxlovid and Comirnaty.
Guidance for 2022 has been raised and lowered.
Pfizer stock (NYSE:PFE) has increased the lower end of its previously reduced full-year 2022 expectations by $0.05, with EPS ranging from $6.30 to $6.45 vs. $6.67 average analyst estimates. According to average analyst predictions, full-year 2022 sales could range between $98 billion and $102 billion, with a high of $103.62 billion. Based on supply contracts, the business estimated that Comirnaty would generate $32 billion in sales and Paxlovid would generate $22 billion in revenue.
Featured Image – Megapixl © Alexraths
Author Okoro Chinedu 
