Pfizer Cuts Earnings and Revenue Projections

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As a result of lower than expected COVID-19 treatment and vaccine needs, Pfizer has cut its earnings for the year. The drug maker says they expect revenue from Palo with their COVID treatment to be $7 billion lower than expected and revenue from their vaccine to be $2 billion lower. Today, the company CEO said we are in the middle of the COVID fatigue. Nobody wants to speak about COVID. We have the big anti vaccination rhetoric. Additionally, the company has set into motion a $3.5 billion cost cutting plan which will include layoffs.