Yet Pfizer’s valuation makes it an interesting stock. It expects to pull in only $8 billion from them next year. The drug company made $52 billion in Covid sales in 2022 but just $12.7 billion in this year. It means the pharma’s own business is tanking because it was all tied up in Covid treatments. What makes it even worse is the guidance includes a $3.1 billion contribution from Seagen. Pfizer said 2024 revenues would be in the range of $58.5 billion to $61.5 billion, essentially flat from this year, but well below the $62.3 billion Wall Street was looking for. Not even including its sales in the revenue guidance the pharma just provided could mask the collapse Pfizer is suffering. Pfizer just closed on its $43 billion takeover of Seagen, a biotech focused on cancer treatments.

Today, not even two new acquisitions can give its stock a booster shot.

It’s lost 55% of its value from the all-time high it hit two years ago when its Covid therapies Comirnaty and Paxlovid ruled the pandemic-stricken world. Pharmaceutical giant Pfizer (NYSE: PFE) is trading at levels it hasn’t seen in over a decade.

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