Pfizer reports good third-quarter earnings due to sales of COVID-19 treatments.
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Pfizer, a big medicine company, did better than expected in the last three months. This is because many people bought their COVID-19 treatment called Paxlovid.
Paxlovid made Pfizer $2.7 billion in the last three months. This was helped by a lot of people getting sick and the US government buying a lot of Paxlovid to have on hand.
Other Pfizer medicines also sold well, making their total money from sales $17.7 billion. People who watch companies for a living thought Pfizer would only make $14.92 billion.
Pfizer also made money from a company they bought called Seagen and from their COVID-19 vaccine. However, some people who invest in Pfizer are unhappy with how the company is using its money.
Pfizer made a lot of money during the pandemic and used some of it to buy other companies. These investors believe Pfizer can make more money for them by using its money differently.
Questions
What did Pfizer sell that made them a lot of money?
Pfizer sold their COVID-19 treatment called Paxlovid.
How much money did Paxlovid make for Pfizer in the last three months?
Paxlovid made Pfizer $2.7 billion.
Why are some investors unhappy with Pfizer?
Some investors are unhappy because they believe Pfizer can make more money by using its money differently.
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