Pfizer profits drop as it adapts to lower Covid-19 revenues ...Middle East

NEW YORK: Pfizer reported a drop in first-quarter profits Tuesday on declining Covid-19 vaccine revenues, but said it was on track for a heavy series of product launches later in 2023.Shares of the pharma giant edged higher as Pfizer Chief Executive Officer Albert Bourla touted an “unprecedented” number of new launches to help offset an ebbing of Covid-19-related sales that have boosted profits in recent years.These include the migraine drug Zavzpret and the Prevnar pneumonia vaccine for children. Pfizer is also targeting growth in cancer treatments, having announced in March an acquisition of biotech company Seagen for $43 billion.Bourla said integration planning for Seagen is underway and

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