Pfizer shares fall 5% as forecast for vaccine sales falls short

The oral Covid-19 antiviral Paxlovid has shown promise in cutting hospitalisations and deaths in high-risk patients

The Pfizer vaccine, based on the mRNA technology that is also behind rival Moderna's shots, is used in more than 160 countries.

Pfizer forecast $54bn (€47.6bn) in full-year sales of its Covid-19 vaccine and antiviral pill that fell short of lofty estimates, sending its shares down 5%.

Although Pfizer raised its forecast for the vaccine, developed with Germany's BioNTech, by $1bn to $32bn, the drug-maker warned that it does not expect final sales for the year to top that figure by much.