Pfizer profit falls 32% as global trial of COVID-19 vaccine candidate begins

FILE PHOTO: A man walks past a sign outside Pfizer Headquarters in the Manhattan borough of New York City, New York, U.S., July 22, 2020. REUTERS/Carlo Allegri/File Photo

- Pfizer Inc reported a 32% fall in second-quarter profit on Tuesday due to a dip in demand for some of its drugs from the COVID-19 pandemic and from rising competition, as the company and partner began a global study into a vaccine candidate to fight the health crisis. The U.S. drugmaker said net income fell to $3.43 billion, or 61 cents per share, in the quarter, from $5.05 billion, or 89 cents per share, a year earlier.Pfizer and German biotech BioNTech drugmaker said on Monday they would begin a pivotal global study to evaluate their lead COVID-19 vaccine candidate.

Wow ok. So still at 68% profit. Ok cool outstanding 🤷‍♂️

The government subsidies must be drying up.

The economic business of the pharmaceutical company that seeks to make billions of dollars with people's health.

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