Pfizer sees ‘sustainable demand’ for COVID-19 vaccine as it boosts sales forecasts

Pfizer Inc. estimated US $ 26 billion in sales of the COVID-19 vaccine this year on Tuesday, a jump of more than 70 percent from its last launch, reflecting new contracts with governments around the world that accelerated. Is trying to stop the epidemic through vaccination.

The raised target assumes 1.6 billion doses of the vaccine, co-developed with BioNtech SE, will be delivered in the year, with the two-shot vaccine emerging as the best-selling product for the US drugmaker in the first quarter.

It is expected to make up for more than one-third of Pfizer’s full-year sales with the company in supply negotiations with several countries for 2022 and beyond.

“Based on what we have seen, we believe that our COVID-19 vaccine has a sustainable demand for the flu vaccine – a potential outcome,” Chief Executive Albert Borla said in his prepared remarks.

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The cost and gross profit from the vaccine are split 50–50 between Pfizer and BioNTech. Both drug manufacturers said they aimed to produce 2.5 billion doses this year, of which 900 million doses have not been included in Pfizer’s forecast.

If it sells the number of doses, vaccine sales could be at least 50 percent higher than the estimated $ 26 billion in 2021.

The company has said it expects to benefit from the vaccine, while some drug makers, including Johnson & Johnson, have said that their vaccine will be available on a non-profit basis by the end of the epidemic.

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Pfizer aims to produce at least 3 billion doses of the vaccine next year. It beat revenue of $ 3.5 billion and estimates of $ 3.28 billion in the first quarter, according to six analysts at Refinitive.

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Rival Modern estimates $ 18.4 billion in 2021 sales of its COVID-19 vaccine.

Pfizer said it used the technology used in COVID-19 shot known as messenger RNA, in which two flu vaccines have been developed that are expected to enter clinical studies in the third trimester.

The company’s shares were up 1.4 percent in premarket trading.

(Reporting by Manas Mishra in Bengaluru and Michael Arman in Maplewood, NJ; Editing by Arun Coeur)

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