The healthcare industry is seeing a new transformation as COVID-19 rates decline and the demand for vaccines and related products dips. Key firms in the sector are feeling the impact. Pfizer cut $9 billion from its annual sales forecast due to reduced demand for its Covid products. Makers of at-home rapid tests are seeing financial trouble, and companies producing personal protective equipment have shut down. However, not all areas suffer; more people are returning to routine checkups and procedures, benefiting physicians and hospitals. Meanwhile, investors are shifting their focus towards other medical breakthroughs like weight-loss drugs. The future looks uncertain for companies profiting highly from the pandemic as the market adjusts to a post-pandemic environment.
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[Source: Bloomberg, October 17th, 2023]