Pfizer Forecasts $ 36 Billion Annual Revenue From Covid-19 Vaccine

First modification: 02/11/2021 – 16:00

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US drugmaker Pfizer on Tuesday raised its annual revenue estimates for the Covid vaccine Comirnaty, which it develops with German biotech BioNTech, citing strong demand outside the United States.

Now the company expects to sell the vaccine this year for $ 36 billion, up from a previous forecast of $ 33.5 billion.

“More than 75% of the increase in Comirnaty’s revenue in the third quarter of 2021 comes from countries outside the United States,” said Pfizer CEO Albert Bourla in the company’s quarterly results statement.

“We are on track to meet our target of supplying at least 2 billion doses to low- and middle-income countries by the end of 2022,” he added, noting that half of these doses would be sold to the US government at cost price for its distribution in the poorest countries of the world.

In the year as a whole, Pfizer plans to supply 2.3 billion vaccines worldwide.

In late October, the U.S. Food and Drug Administration (FDA) approved Comirnaty for children ages 5 to 11, paving the way for a major new vaccination campaign in the country.

A group of experts from the Centers for Disease Control and Prevention (CDC) is meeting Tuesday to decide whether to recommend the vaccine for younger children.

From July to September, Pfizer posted sales of $ 24.1 billion, more than the $ 22.7 billion expected by Wall Street.

The group’s net profit in the period was $ 8.15 billion.

© 2021 AFP

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