What risks could impact PFE's Q1 2025 earnings?

**Pfizer's Q1 2025 Earnings are Likely to be Impacted by Several Key Factors**: 1. **Decline in COVID-19 Related Sales**: - The anticipated wave of COVID-19 cases that was expected to drive sales of Pfizer’s COVID-19 vaccines and antivirals has not materialized, leading to a decline in sales volumes from these blockbuster drugs. - The company anticipates that its COVID products will account for 13% of its revenue in 2025, down from 16% in 2024. 2. **Challenges from Competitive Pressure and Price Decreases**: - Global demand trends for certain drugs, such as Prevnar, Xeljanz, and Ibrance, are experiencing competitive pressure and price decreases in some international markets, which could affect sales growth. 3. **Impact of Activist Pressure and Strategic Decisions**: - The involvement of activist investor Starboard Value, who has criticized Pfizer’s strategic decisions and is pushing for a shakeup, could lead to additional pressures and potential disruptions. 4. **Earnings Projection Revisions**: - Earnings estimates for Q1 2025 are expected to show a year-over-year decline, with projected EPS of $0.67, reflecting an 18.3% decrease. - The consensus earnings estimate for the current fiscal year indicates a year-over-year change of -4.5%, which could indicate broader challenges in projecting profitability. In summary, Pfizer's Q1 2025 earnings are likely to be influenced by the decline in COVID-19 related sales, competitive pressures, activist influence, and earnings projection revisions. These factors combined present a complex landscape for the company's near-term financial performance.