Pfizer posts surprise profit, but key products miss on sales

Pfizer's earnings are closely watched because it employs around 5,000 people in Ireland and the drug maker is likely to be one of the multinationals that during the covid years made an outsized contribution to Irish corporate tax revenues

Pfizer's earnings are closely watched because it employs around 5,000 people in Ireland.

Pfizer has reported a surprise quarterly profit, helped by cost cuts and fewer returns of its covid treatment Paxlovid by the US government than it had expected, but sales of some high profile products fell short of estimates. The New York-based drugmaker posted revenue in the quarter of $14.25bn (€13.15bn) which was shy of Wall Street estimates of $14.42bn. 

Its earnings are closely watched here because it employs around 4,000 people in Ireland at sites in Ringaskiddy, Grange Castle, Newbridge, and Ringsend in Dublin. The drug maker is likely to be one of the multinationals that during the covid years made an outsized contribution to Irish corporate tax revenues.