Pfizer’s profit plunged over 40 percent year over year in the first quarter, with the drugmaker blaming falling sales of its COVID-19 vaccine and antiviral treatment for the net income crunch.
In its first-quarter 2024 results, released on May 1, Pfizer reported total revenues of $14.9 billion, representing a revenue decline of 20 percent year over year from the $18.5 billion notched in the year-ago quarter.