Pfizer posted a loss in the third quarter due to declining demand for the Covid-19 vaccine

The American pharmaceutical company Pfizer announced a loss of $2.38 billion in the third quarter of this year due to decreased demand for its products related to Covid-19.

According to Pfizer’s balance sheet, the company’s revenue decreased 42 percent in the third quarter of this year compared to the same period last year, to $13.2 billion. Pfizer’s revenue was $22.6 billion in the third quarter of last year.

The company, which made a profit of $8.6 billion in the third quarter of last year, lost $2.38 billion in the same period this year.

LOSS PER SHARE 42 CENTS

Pfizer’s loss per share was 42 cents in this period. The company announced earnings of $1.51 per share in the third quarter of last year.

The company’s revenue from sales of the Covid-19 vaccine decreased by 70 percent in the third quarter of this year compared to the same period last year, and sales of the pill called “Paxlovid” developed against Covid-19 decreased by 97 percent. (AA)