Pfizer tops Q1 forecasts; vaccine sales slide as expected

By TOM MURPHY
AP Health Writer

Pfizer beat first-quarter forecasts as revenue took an expected dip, but the drugmaker predicted a sales rally later this year. The pharmaceutical giant said Tuesday that total revenue dropped 29% in quarter, as sales tumbled for its market-leading COVID-19 vaccine, Comirnaty. The vaccine brought in $3 billion in the first three months of this year compared to more than $13 billion last year, when virus cases were soaring. Overall, Pfizer’s net income sank 30% to $5.54 billion in the quarter. Pfizer expects new products and fall vaccines to help boost sales later this year.