Robert Hart
Forbes
Topline
Stocks of Pfizer and other Covid vaccine makers like BioNTech and Moderna fell in premarket trading Monday after the company slashed its revenue forecasts last week, a change in fortune for the sector as demand for the pandemic-related products that propelled them to record profits last year plummets.
Key Facts
Pfizer shares fell 3.11% during premarket trading on Monday.
Shares of Germany’s BioNTech, which jointly developed the Comirnaty coronavirus shot with Pfizer, were down 6.57% in Frankfurt, falling to a two-month low.
The German biotech’s U.S.-listed shares were also down 6.41% in premarket trading.
Shares of rival mRNA vaccine maker Moderna also fell 4.45% in premarket trading.
Shares of Novavax, which has faced setbacks in getting its updated protein-based shot approved, were also down 4.54% on Monday.
News Peg
Pfizer slashed its annual revenue forecast by 13% on Friday due to sliding demand for its Covid-19 products. Sales of the firm’s mRNA shot, produced jointly with BioNTech, and its antiviral drug Paxlovid helped it secure record profits last year but the firm has long warned about sliding demand as the world, and particularly the U.S., exits the pandemic this year.
The company cut its projections for Paxlovid by $7 billion and by around $2 billion for its Covid shots, which was greater than analysts expected. Pfizer said it was launching a $3.5 billion cost-cutting program covering jobs and expenses as it prepares for the hit to its revenues.
Pfizer said it would take a write down of $5.5 billion in the third quarter due to shrinking demand for its Covid stock, most of which comes from inventory write-offs of Paxlovid worth $4.6 billion. The company also acknowledged a $900 million write off from Covid vaccine stock, a write-off BioNTech also flagged on Monday on account of its profit sharing agreement with Pfizer.
What To Watch For
Moderna will report its quarterly earnings on November 2. While Moderna is leveraging its success during the pandemic to develop a wide array of medicines, treatments and vaccines for things including Lyme disease, the flu, HIV, RSV, Zika, norovirus and genetic conditions, its Covid-19 vaccines are its only commercial product and it is particularly vulnerable to sliding demand.
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The Most Revolutionary Act 
“vaccine” aka gene therapy.
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Hahahaha.
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Unfortunately, it’s done what it was supposed to do; killed millions of people and now that folks are saying, “Enough is enough, my granny is dead because of your shit,” the bottom line is taking a hit. If only there was no cause to celebrate the plummet of the stock of these sick and twisted shits. If only people had used their brains instead of their smartphones and engaged in a bit of critical thinking. But then, that’s just why smartphones and smart cars and smart homes and smart meters were designed; to tell us that we are all some dumb shits because everything is smarter than we are. And now AI to complete the mission. I know, I’m such a party pooper. Now, back into my bat cave, I go.
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it blows my mind that so many people took that shit. i mean , youre so scared of what amounted to a strain of the flu that you embraced a novel “vaccine” that was rushed thru in 6 months or so when normally it takes 10 years to determine a vaccines safety. thats crazy. i think it was 80 % or so of us that lacked critical thinking or were required to take the jab by our job. maybe they could nt “afford” to quit. however instead of putting their lives and health in danger they should have found a way. looks like 80% of us are fools.
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I concur nomad. I’ve lost plenty of jobs, I’ve been homeless, hungry, burned out of my apartment, but I’m still here to talk about it and so I make no excuses for those who say they had no other choice but to take the clot shot or lose their job. Many of them lost their lives and so if they were still here to pick and choose which would they prefer; to be dead or to be at another job? I would hope they’d pick the latter, but since I and you have pointed out just what we are dealing with, they might just choose that same path. Fear of a lost job, fear, fear, fear and now, they’re dead and these sick and twisted corporate shits are still getting paid, just not as much. SIGH!! I despair OF us!
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i wonder when theyre gonna start dying. wsurely they must have taken the jabs themselves. and our political leaders. they must be the most jabbed of all. when are these charlatans gonna start dying?
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Nomad, those who put this shit into motion are not the ones who were going to “experiment” on themselves. They experimented on everyone who stood in line and took those clot shots. You remember when they showed Biden rolling up his sleeve, ostensibly to take a Covid vaccine. Now, I know you know that wasn’t no Covid vaccine in that needle Biden got. They figured that some people are so stupid that if they saw Biden being given a “Covid vaccine,” that would get more people to line up and it worked. Millions still TRUST their no-good government because they are blind sheep, easily led to the slaughter and that is exactly what happened. Millions who took those clot shots are dead or dying, but those “charlatans” as you say, who put this shit in motion are sitting back anticipating the next “vaccine” to take the rest of us out. You can count on that.
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yeah. somebody else has noticed.
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BINGO!!! Not one politician took that bioweapon, you can rest assured of that!!!
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My comment before wasn’t clear. Reading the other comments, I am glad Pharma is losing money, but I’m sad that it has taken this to show how dangerous their human experimentation tactics are. Supposed government regulatory agencies have been double-crossing the populace since this pretend health crisis first grabbed public, political, and media attention.
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