anonymous
Guest
anonymous
Guest
This guidance down-revision was much expected but the magnitude of weaker demand ($4.8B below prior guide) will likely surprise investors.
In addition, US Govt giving back $4.2B worth of Paxlovid is also a surprise. We see $5-$6B downside to
consensus COVID sales for 2024 and beyond and do not think cost cuts of $1B in 2023 and $2.5B in 2024 would be enough to offset that.
In addition, US Govt giving back $4.2B worth of Paxlovid is also a surprise. We see $5-$6B downside to
consensus COVID sales for 2024 and beyond and do not think cost cuts of $1B in 2023 and $2.5B in 2024 would be enough to offset that.