AGL 40.10 Increased By ▲ 0.10 (0.25%)
AIRLINK 127.13 Increased By ▲ 0.09 (0.07%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.88 Increased By ▲ 0.44 (1.06%)
DGKC 87.51 Increased By ▲ 0.66 (0.76%)
FCCL 32.50 Increased By ▲ 0.22 (0.68%)
FFBL 64.99 Increased By ▲ 0.19 (0.29%)
FFL 10.36 Increased By ▲ 0.11 (1.07%)
HUBC 109.40 Decreased By ▼ -0.17 (-0.16%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.09 Increased By ▲ 0.04 (0.79%)
KOSM 7.56 Increased By ▲ 0.10 (1.34%)
MLCF 41.50 Increased By ▲ 0.12 (0.29%)
NBP 59.90 Decreased By ▼ -0.51 (-0.84%)
OGDC 192.40 Increased By ▲ 2.30 (1.21%)
PAEL 28.17 Increased By ▲ 0.34 (1.22%)
PIBTL 7.80 Decreased By ▼ -0.03 (-0.38%)
PPL 151.24 Increased By ▲ 1.18 (0.79%)
PRL 26.40 Decreased By ▼ -0.48 (-1.79%)
PTC 16.13 Increased By ▲ 0.06 (0.37%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.82 Increased By ▲ 0.11 (1.43%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.10 Decreased By ▼ -0.02 (-0.25%)
TREET 16.25 Decreased By ▼ -0.16 (-0.98%)
TRG 53.20 Decreased By ▼ -0.09 (-0.17%)
UNITY 26.40 Increased By ▲ 0.24 (0.92%)
WTL 1.27 Increased By ▲ 0.01 (0.79%)
BR100 9,991 Increased By 106.9 (1.08%)
BR30 31,161 Increased By 561.2 (1.83%)
KSE100 94,124 Increased By 769.1 (0.82%)
KSE30 29,165 Increased By 233.9 (0.81%)

Pfizer Inc said on Tuesday it is reducing its US sales staff as it expects doctors and other healthcare providers to want fewer face-to-face interactions with sales people after the COVID-19 pandemic ends.

The move comes as the company is expected to announce more than $80 billion in revenue in 2021 on strong sales of the COVID-19 vaccine it developed with Germany's BioNTech SE . That would be record sales for a pharmaceutical company, according to Pfizer Chief Executive Albert Bourla.

"We are evolving into a more focused and innovative biopharma company, and evolving the way we engage with healthcare professionals in an increasingly digital world," the company said in a statement.

"There will be some changes to our workforce to ensure we have the right expertise and resources in place to meet our evolving needs."

Pfizer agrees to pay $345m to resolve EpiPen pricing lawsuit

The company did not specify how many sales jobs it was cutting.

A source familiar with the matter said Pfizer was eliminating a few hundred positions. The company also plans to create new positions in different areas for around half those jobs, the source said.

According to a document seen by Reuters, Pfizer believes that doctors and other healthcare professionals will want around half of their interactions with drug companies to be remote in the future.

Pfizer's revenue is expected to climb even higher this year and is projected to top $100 billion, according to analyst estimates.

Around half of the company's 2022 sales are expected to come from the COVID-19 vaccine and its new oral COVID-19 treatment, Paxlovid.

The vaccine and Paxlovid are being sold directly to governments in the near-term.

Comments

Comments are closed.