Pfizer expects to win $ 15 billion in Covid-19 vaccine this year

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Its fourth-quarter earnings report was the first since Pfizer’s Covid-19 vaccine received an emergency use authorization from the U.S. Food and Drug Administration in December – the first vaccine to receive such approval. Since then, the vaccine, developed in partnership with the German company BioNTech, has begun to be developed throughout the country, as well as in other parts of the world.

The vaccine contributed $ 154 million in sales in the fourth quarter. Pfizer’s projection for vaccine revenues in 2021 primarily includes doses that are expected to be delivered under existing contracts and can be updated as new contracts are executed, the company said, indicating that revenues could be even higher. The company added that patients will likely need to receive regular vaccine boosts to “maintain the immune response and counteract the emerging variant strains,” which would mean continued revenue from the product after this year.

Pfizer (PFE) said it shipped 65 million doses so far, including 29 million to the United States. The company expects to have delivered 200 million doses to the United States by the end of May, reaching the mark two months before the contractual obligation.
The company said it could produce a total of 2 billion doses worldwide by the end of 2021, based on expanding to its current facilities and “subject to the addition of more contract suppliers and manufacturers,” although it is uncertain whether it will actually sell all these doses. French pharmaceutical company Sanofi recently signed on to fill and package more than 100 million vials of Pfizer vaccine this year, in an effort to meet the huge demand for fires, as much of the world continues to be hit by the pandemic. .

The company raised its overall earnings guidance for 2021 to $ 3.10 and $ 3.20 per share, in part due to contributions to the vaccine’s expected revenue.

The projection was a bright spot in an otherwise mixed earnings ratio. Pfizer posted quarterly revenue of nearly $ 11.7 billion, up 12% from the same period last year and slightly ahead of Wall Street analysts’ forecasts. Earnings per share reached $ 0.42, but did not exceed Wall Street expectations. The company’s shares fell by almost 3% on Tuesday at the beginning of trading.

Sanofi will help produce 100 million doses of Pfizer / BioNTech vaccine

Pfizer is emerging from a major corporate restructuring, which involved giving up several parts of its business to focus on developing and distributing more innovative drugs. Although it plays a major role in fighting coronavirus, Pfizer’s larger business has been caused by the pandemic – fewer people leaving home to see their doctors have meant fewer new prescriptions for some of Pfizer’s key products. 2020. The company said it expects to “continue” recovery “as part of a broader healthcare activity in 2021 as more people are vaccinated.

Pfizer posted year-over-year revenue of $ 41.9 billion, up 2% from a year earlier.

“2020 has been a year of transformation, not only for Pfizer, but also in the lives of every patient in every community we serve,” Pfizer CEO Albert Bourla said in a statement. “We have seen the culmination of Pfizer’s ten-year transformation into a company focused on pure science and innovation … Our record success in developing a vaccine against Covid-19 with our partner BioNTech is just one example of what what we think this new Pfizer is capable of. “

Bourla expressed optimism about the company’s product line beyond the Covid-19 vaccine, which includes cancer drugs and the pneumonia vaccine, in a call with analysts on Tuesday morning. The company has reaffirmed its expected annual revenue growth rate of at least 6% by 2025, excluding any potential contributions from the vaccine.

The CEO also said that Pfizer hopes to work with lawmakers to help patients afford more expensive drugs – high drug prices are one of the complaints of US health officials.

“We believe the industry has generated a lot of goodwill with Congress and the public with our Covid-19 treatment and vaccinations, and we hope we can build on that goodwill by working together on a solution, including making a contribution as an industry through legislation or executive action that has resulting in lower out-of-pocket costs for patients, “Bourla said.” The status quo simply will not reduce it, and we look forward to working with the Biden administration and members of Congress on both sides of the aisle to ensure that our discoveries are accessible to all. “

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