Pfizer Reports Quarterly Loss as COVID Vaccine Demand Wanes

Pfizer reported a sharp drop in sales and billions of dollars in losses amid waning demand for COVID-19 products/

Pfizer Inc. headquarters is seen in New York City, on Oct. 15, 2020. Ron Adar/Shutterstock

Pfizer reported an adjusted loss for the third quarter on Oct. 31 as the drugmaker said sales of its COVID-19 vaccine and antiviral treatment slowed sharply as many Americans seem to have put the pandemic behind them.

Third-quarter revenue was $13.23 billion, down 42 percent from the year-earlier period, due to the decline in sales of its COVID products., the New York-based company said in a statement.