Pfizer Tumbles After Warning That Next Year Could Be Worse Than This Year

Pfizer actions tumbled to their lowest level in more than nine years, after the pharmaceutical giant overestimated Covid-19 vaccine use and the company was forced to warn on its prospects.

Shares fell 6.7% on Wednesday because the company, which lost 140 billion dollars in market capitalization this year, said its revenue could fall next year and issued 2024 forecasts that were lower than analysts’ expectations.