Overview

• Pfizer reported a 31% increase in revenue to $17.7 billion, exceeding analyst expectations.
• The company's COVID-19 treatment Paxlovid generated $2.7 billion in sales, significantly boosting overall performance.
• Pfizer raised its full-year earnings guidance to $2.75 to $2.95 per share, up from a previous range of $2.45 to $2.65.
• Activist investor Starboard Value, holding a $1 billion stake, has criticized Pfizer's management for not capitalizing on pandemic-era gains.
• CEO Albert Bourla remains confident in the company's strategic direction, despite Starboard's calls for management accountability.