Pfizer Embraces Direct-To-Consumer Model For Covid Antiviral, Says Comirnaty Revenues Continue To Perform Consistently With Expectations
Portfolio Pulse from Vandana Singh
Pfizer Inc. (NYSE:PFE) reported a first-quarter adjusted EPS of $0.82, down 33% year over year but above consensus estimates. Sales fell 20% to $14.9 billion, with significant decreases in Comirnaty and Paxlovid revenues. Despite this, Pfizer beat revenue consensus and reiterated its 2024 revenue forecast of $58.5 billion-$61.5 billion. The company is launching a direct-to-consumer platform for medications, including Paxlovid. Eli Lilly (NYSE:LLY) also embraced a similar direct-to-consumer model earlier.
May 01, 2024 | 2:38 pm
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Eli Lilly previously launched a direct-to-consumer platform for a weight loss drug, indicating a similar strategic move as Pfizer.
Eli Lilly's earlier move to launch a direct-to-consumer platform showcases a broader industry trend towards direct sales. This strategic alignment with Pfizer's new initiative may positively influence investor perception and LLY's stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Pfizer reported a decrease in Q1 earnings but beat consensus estimates. It's launching a direct-to-consumer platform for medications, including Paxlovid.
Pfizer's earnings beat and the innovative direct-to-consumer platform for its key products like Paxlovid indicate a positive outlook, likely boosting investor confidence and potentially the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100