Page 20 - Michael Erman News Today

(Reuters) -Pfizer on Friday slashed its full-year revenue forecast by around 13% and launched a $3.5 billion cost cutting program due to lower-than-ex...

The drugmaker said it now expects 2023 revenue of between $58 billion and $61 billion, down from it prior forecast of $67 billion to $70 billion. It said the reduction was solely due to lowered expectations for its COVID-19 products. The cost cutting, targeting savings of at least $3.5 billion by the end of 2024, will include layoffs, the company said, without providing details on how many jobs will be cut or from what areas.

(Reuters) -Pfizer on Friday slashed its full-year revenue forecast by around 13% and launched a $3.5 billion cost cutting program due to lower-than-ex...

Vaccine maker Novavax on Monday said it has shipped millions of doses its updated COVID-19 shots to distributors after receiving the go-ahead from US regulators.

Vaccine maker Novavax Inc on Monday said it has shipped millions of doses its updated COVID-19 shots to distributors after receiving the go-ahead from U.S. regulators. Novavax said it expects the shots to be available at U.S. pharmacies this week. The Maryland-based company, whose COVID vaccine is its lone marketed product, has adopted cost-cutting measures and is counting on commercial sales of its updated shot to help it stay afloat.

By Michael Erman NEW YORK (Reuters) - Vaccine maker Novavax Inc on Monday said it has shipped millions of doses its updated COVID-19 shots to distribu...

Vaccine maker Novavax Inc on Monday said it has shipped millions of doses its updated COVID-19 shots to distributors after receiving the go-ahead from U.S. regulators. Novavax said it expects the shots to be available at U.S. pharmacies this week. The Maryland-based company, whose COVID vaccine is its lone marketed product, has adopted cost-cutting measures and is counting on commercial sales of its updated shot to help it stay afloat.

Shot seekers also say they have been surprised by requests for upfront payments of $150 to $200 now that the U.S. government has handed off to private companies including vaccine makers, pharmacies, and insurance plans to handle distribution, administration and payment coverage. Around 4 million people received the updated Pfizer /BioNTech or Moderna shots in September, and 12 million doses were shipped, according to data from the U.S. Department of Health and Human Services (HHS). The U....

Around 4 million Americans received the updated COVID-19 shots in September, even as some people have found it difficult to book vaccination appointments or find the vaccines at no cost.

The government will stop distributing free doses of Mercks COVID-19 antiviral treatment molnupiravir by the middle of next month and expects it to be sold on the commercial market instead.