Pfizer (PFE) shares plummeted 5.02% in intraday trading, continuing a downward trend that has seen the stock hit a new 52-week low. The pharmaceutical giant faces multiple challenges, including declining sales of its COVID-19 products and global economic uncertainty.

The sharp decline comes as Pfizer grapples with a significant drop in revenues from its COVID-19 products, Comirnaty and Paxlovid. Sales of these products fell to approximately $11 billion in 2024 from $56.7 billion in 2022, reflecting the end of the pandemic's acute phase. Additionally, the company faces potential headwinds from global trade tensions, with fears of new tariffs on pharmaceutical imports adding to investor concerns.

Despite these challenges, Pfizer's non-COVID operational revenues showed improvement in 2024, driven by key products like Vyndaqel, Padcev, and Eliquis. The company's recent acquisition of Seagen has also strengthened its position in oncology, a sector that now comprises about 25% of Pfizer's total revenues. However, these positive factors have not been enough to offset investor worries about the company's near-term growth prospects.

As Pfizer transitions away from its reliance on COVID-19 products, it faces the additional challenge of patent expirations for several key drugs between 2026 and 2030. The company is banking on its pipeline of new drugs and cost-cutting measures to navigate this period of transformation. With a dividend yield of around 7.6% at current prices, some analysts suggest the stock may be attractively valued for long-term investors willing to weather the ongoing volatility.