Pfizer’s stock sinks after company cuts outlook on lower demand for COVID products

Pfizer Inc.
PFE,
-2.46%
shares dropped in the extended session Friday after the drug maker slashed its full-year outlook due to COVID product write offs. Pfizer shares dropped more than 7% after hours, following a 2.5% decline to close the regular session at $32.11. The company forecast full-year earnings of $1.45 to $1.65 a share on revenue of $58 billion to $61 billion. Analysts surveyed by FactSet expect $3.29 a share on revenue of $65.96 billion.