Pfizer expects to earn billions from corona vaccine sales in 2021

OSLO, MAY 5: The pharmaceutical giant Pfizer expects to sell COVID-19 vaccines for USD 26 billion this year, a sharp upward adjustment from previous forecasts of USD 15 billion.

The new forecast, which corresponds to sales of around NOK 216 billion, is based on vaccine delivery agreements with authorities around the world, the American company wrote in its quarterly report presented on Tuesday.

The company aims to deliver 1.6 billion doses of the corona vaccine, which has been developed in collaboration with German company BioNTech. The two companies share the costs and revenues associated with the vaccine equally.

“Extremely proud”

“I am extremely proud of how we have started 2021, with strong financial results in the first quarter… Operating revenues increased by 8%, in line with the goal of 6% annual growth until 2025,” CEO Albert Bourla said.

“In addition, we have reached clinical, regulatory, and commercial milestones throughout our portfolio, while at the same time increasing the supply of the much-needed corona vaccine.”

Pfizer had revenues of USD 14.6 billion in the first three months of the year, up from USD 10.1 billion in the same period last year – a growth of 42%.

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COURTESY norwaytoday

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