Pfizer expects to recover $ 15 billion in sales of its Covid-19 vaccine this year

Its fourth-quarter earnings report was the first since Pfizer’s Covid-19 vacuum received emergency approval 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 firm BioNTech, has started to roll out across the country and also elsewhere in the world.

Pfizer (PFE) said it was sent 65 million doses so far, including 29 million to the United States. The company expects to deliver 200 million doses to the United States by the end of May, which would reach the point two months before the contractual obligation.

The company said it could potentially earn a total of 2 billion doses worldwide by 2021, based on expanding existing facilities and ‘depending on the addition of more suppliers and contract manufacturers’, although it is not sure if it will sell all the doses. not. . French pharmaceutical company Sanofi recently signed on to fill and package more than 100 million bottles of Pfizer’s vaccine this year in an effort to meet the huge demand for the shots, as the pandemic continues to plague much of the world suppress.

The company has increased its overall earnings list for 2021 to between $ 3.10 and $ 3.20 per share, thanks in part to the vaccine’s expected revenue contributions.

The projection was a highlight in an otherwise mixed earnings report. 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 were $ 0.42, but did not live up to Wall Street expectations. The company’s share fell nearly 3% in early trading on Tuesday.

Pfizer is undergoing a major restructuring of the corporation, which has involved cutting out various parts of its business to focus on developing and distributing more innovative medicines. Although it plays an important role in fighting the coronavirus, Pfizer’s broad business has been challenged by the pandemic – fewer people leaving home to see their doctors mean fewer new prescriptions for some of Pfizer’s key products during a large part of 2020 is meant. recovery in broader health care activities in 2021 as more people are vaccinated.

Pfizer generated annual revenue of $ 41.9 billion, up 2% from the previous year.

“2020 has been a transformative year, not only for Pfizer, but also in the lives of every patient in every community we serve,” Albert Bourla, CEO of Pfizer, said in a statement. ‘We have seen the culmination of Pfizer’s decade-long transformation into a pure, scientific and innovation-oriented enterprise … Our record success in developing a vaccine against Covid-19, together with our partner BioNTech, is just one example of what we believe this new Pfizer can achieve. ‘

On Tuesday morning, Bourla, on a call with analysts, expressed optimism about the pipeline of products outside the Covid-19 vaccine, which includes cancer drugs and a pneumonia. The company reaffirmed its projected annual growth rate of at least 6% by 2025, excluding the potential contributions of the vaccine.

‘We believe the industry has generated a great deal of goodwill with Congress and public opinion with our Covid-19 treatment and vaccinations, and we hope we can build on this goodwill by working together to find a solution. , including a contribution as an industry. through legislation or action that results in patients suffering lower from their business costs, ”Bourla said. “The status quo simply will not cut it and we look forward to working with the Biden government and members of Congress from both sides to ensure that our breakthroughs are accessible to all.”