ceo albert bourla stresses plans to launch 19 new products or indications in the next 18 months pfizer incs stock fell 17 premarket tuesday after the drug giants secondquarter earnings fell sharply from a year ago as sales of its covid vaccine and antiviral tumbled to drive a more than 50 decline in revenue the company pfe posted net income of 2327 billion or 41 cents a share for the quarter down 77 from 9906 billion or 173 a share in the yearearlier period adjusted pershare earnings came to 67 cents ahead of the 57 cent factset consensus revenue fell 54 to 12734 billion from 27743 billion a year ago below the 13363 billion factset consensus the company chalked up sales of 16 billion from covid vaccine comirnaty and antiviral paxlovid but that was way below the roughly 17 billion the two treatments generated in the yearago quarter excluding those two revenue grew 5 from a year ago chief executive albert bourla emphasized that the company is working on a goal of launching 19 new products or indications in an 18month span as the world moves on from the pandemic the company is also working to close its 43 billion acquisition of cancer drug maker seagen for which it raised 31 billion in a debt offering during the second quarter that deal is expected to add more than 10 billion in sales by 2030 the company lowered the top end of its fullyear revenue guidance to 670 billion to 700 billion compared with prior guidance of 670 billion to 710 billion the company said it is expecting cormirnaty revenue of about 135 billion down 64 from a year ago it said it expects paxlovid revenue to fall 58 to about 8 billion guidance for both products is no longer based on signed or committed supply contracts as the company will move to the traditional commercial market in the us in the second half but it said it still expects fullyear adjusted eps of 325 to 345 the stock is down 30 in the year to date while the sp 500 has gained 195 this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal