Scientists at the Pfizer vaccine research and development facility in Pearl River, New York.
Photographer: Amir Hamja/BloombergPfizer Needs to Prove It’s Ready to Move On From Covid-19
The drug giant believes that the technology behind its blockbuster vaccine will be the foundation of a lucrative new era, but competitors are circling and its stock is under pressure.
Pfizer Inc. emerged from the Covid-19 pandemic as the world’s most visible drugmaker, but its success has left investors impatient for an encore.
The windfall from the pharmaceutical giant’s Covid vaccine almost doubled its revenue in just one year. And now the shot, coupled with Pfizer’s Covid antiviral pill, is poised to make up more than half of its expected $100 billion of sales in 2022. That’s left Pfizer flush with cash — $28 billion it could spend on the kinds of deals that for decades fueled its growth into an American colossus.