Pfizer restructuring push hits Ireland

After encountering a significant drop in demand for its COVID-19 products, Pfizer announced a significant restructuring aimed at ultimately saving $3.5 billion globally. The initiative continues with cost-cutting efforts in Ireland where the company plans to consolidate offices and eliminate jobs. The pharmaceutical giant, which was the biggest in the world in 2022, recently announced it will relocate employees from its Citywest office in Dublin to its larger Ringsend facility. The company did not specify an exact number of layoffs. This comes just weeks after Pfizer cut 100 jobs at its Newbridge plant.

Pfizer said it would≥ move all employees from Citywest to the larger Ringsend site to “enable growth and investment in our Irish manufacturing network.” Additionally, the company plans to bolster its Grange Castle biotech facility, which manufactures vaccine and biologic ingredients. Pfizer has biotech and pharmaceutical manufacturing sites in Dublin, Cork,…

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  • November 28, 2023
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Merck’s Q3 2023 revenue guidance put it in line with Pfizer’s

Merck & Co. has announced its third quarter results, projectings its full-year 2023 revenue to be in the range of $59.7 billion to $60.2 billion. That’s roughly in line with the guidance from Pfizer, which recently adjusted its revenue forecast from $58 billion to $61 billion. 

As Pfizer deals with reduced demand for COVID-19 products, which helped catapult its overall revenue beyond $100 billion in 2022, Merck saw a surprise Q3 lift from Lagevrio (molnupiravir), whose sales were up 47% to $640 million. 

Other top sales drivers include the oncology stalwart Keytruda, which generated $6.3 billion in sales, marking a 17% year-over-year increase. Sales for the HPV vaccine Gardasil/Gardasil 9 amounted to $2.6 billion, reflecting a 13% growth. 

Merck Q3 2023 revenue remains robust

The figures keep Merck in the upper echelon of Big Pharmas. In 2022, the company was the second largest with $59.3 billion in overall revenue compared to Pfizer’s $100.3 billion…

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  • October 26, 2023
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