Pfizer, a US drugmaker Wednesday sharply increased its 2021 projection for revenues tied to its COVID-19 vaccine forecasting generating US$33.5-billion in sales instead of US$26-billion predicted in May.
The company which has partnered with Germany’s BioNTech on the vaccine is estimating to deliver 2.1 billion doses.
Pfizer Chief Executive Albert Bourla said more than a billion doses of the vaccine have been delivered, saying “the speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19 have been unprecedented.”
Pfizer said the pre-tax profit margin on the COVID-19 vaccine sales was in the “high-20s” in terms of per cent, the same as the earlier forecast.
The drugmaker reported second-quarter profits of $5.6-billion, up 59 per cent from the year-ago period on a 92 per cent increase in revenues to $19 billion.
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Pfizer has launched clinical studies on a possible third dose of the COVID-19 vaccine as a booster shot. Bourla has said such boosters could amount to a “durable” revenue stream for the company.
US health officials have thus far not far backed a third shot for the broad population, but officials are studying the need for a third shot in immunocompromised people.
More: AFP