Pfizer’s COVID-19 Vaccine Sales Crash as Company Reports Drop in Revenue

Pfizer CEO Albert Bourla gestures during a session at the World Economic Forum annual meeting in Davos, Switzerland, on May 25, 2022. Fabrice Coffrini/AFP via Getty Images

Pfizer’s revenue dropped in the first quarter of 2023 primarily due to flagging COVID-19 vaccine sales.

The company reported $18.3 billion in revenue, down from $25.6 billion in the first quarter of 2022. Pfizer made just $7.1 billion from its COVID-19 vaccines and the COVID-19 pill after reaping more than $56 billion from the products in 2022.