Pfizer has more than doubled the 2021 sales outlook for its Covid-19 vaccine since Feb. and projected another bumper year in 2022 as it expands global distribution for boosters.
- The US Pharmaceutical company stated that it expects to generate $36 billion in sales this year and $29 billion in 2022, with respect to how the vaccine developed with German partner BioNTech.
- The group reported direct sales of $13 billion in Q3. Analysts had projected Covid-19 Vaccine revenues of slightly under $11 billion on average.
- Pfizer has been upgraded its 2021 sales forecasts several times for its Covid-19 vaccine, expecting $15 billion in annual sales in February and then raising that to $33.5 billion in July.
Pfizer has avoided numerous controversies that have hampered rivals such as Moderna, Johnson & Johnson, and AstraZeneca related to rare side effects such as blood clots.
PFE up +2.72%
Source: FT.
