Pfizer’s Covid-19 Vaccine Lifts Quarterly Results – The Wall Street Journal
Pfizer Inc. said it expects its Covid-19 vaccine to generate about $26 billion in sales this year, a major increase from several months ago that reflects the shot’s growing role in the global vaccination campaign.
The company also said Tuesday it is working on making the two-dose shot easier for vaccinators to administer and store. It has begun studying an updated version of the vaccine for the dangerous Covid-19 variant first identified in South Africa.
The Pfizer vaccine is the most-administered of the three Covid-19 vaccines cleared for use in the U.S. and increasingly is available around the world. Pfizer raised its vaccine sales forecast from $15 billion earlier this year as more countries sign supply agreements.
“I couldn’t be prouder of the way Pfizer has started 2021,” Pfizer Chief Executive Albert Bourla said on a conference call with analysts.
The two-dose shot, which Pfizer developed with BioNTech SE , contributed $3.5 billion to the company’s $14.6 billion overall sales during the first three months of the year, Pfizer said. Stripped of one-time items, Pfizer’s adjusted profit in the quarter was 93 cents a share.