Empty vials of the Pfizer COVID-19 vaccine are seen at a drive-thru vaccination site operated by the Lake County Health Department on January 28, 2021 in Groveland, Florida.
Paul Hennessy | NurPhoto | Getty Images
Pfizer expects to sell about $ 15 billion in doses of coronavirus vaccines this year, the company announced in announcing its fourth quarter earnings on Tuesday.
Revenue this year is forecast to be between $ 59.4 billion and $ 61.4 billion.
The company also raised its full-year earnings projection between $ 3.10 and $ 3.20, from $ 3 to $ 3.10, citing “additional refinements” in its vaccine revenue forecast.
See how Pfizer performed in the fourth quarter compared to what Wall Street expected, according to the average estimates compiled by Refinitiv.
- Adjusted EPS: 42 cents vs expected 48 cents.
- Revenue: $ 11.68 billion versus expected $ 11.43 billion.
Revenue increased 12% to $ 11.68 billion, from $ 10.44 billion during the same quarter last year – better than analysts had expected.
Pfizer shares fell 2.6 percent in early trading.
“As a company, we saw the culmination of Pfizer’s decade-long conversion to a company focused on science and innovation,” said CEO Albert Bourla in a press release. “Immediately, our ability to move quickly and use cutting-edge science to help address the world’s most important medical challenges was put to the test by the COVID-19 pandemic.”
The company’s Covid-19 vaccine, which it is manufacturing with German partner BioNTech, was the first to be approved for emergency use in the U.S.
Pfizer, like other vaccine manufacturers Covid, has been striving to meet the demand for vaccines that will hopefully help end the pandemic. Pfizer said it expects to deliver 200 million doses of its double vaccine to the United States by July 31. Recently, she enlisted the help of French pharmacist Sanofi to help produce doses.
The company also said on Tuesday that it is “ready to respond” if a Covid variant shows evidence of evasion of its vaccine. In recent weeks, US health officials, including Dr. Anthony Fauci, have said they are concerned that vaccines currently on the market are not as effective in protecting against new, more contagious strains of the virus.
Novavax said on Thursday that its vaccine was only 49% effective against B.1.351, the highly contagious strain found in South Africa. Johnson & Johnson also said its vaccine is less potent against the strain, saying on Friday Your unique vaccine was 66% effective overall, but only 57% effective against the strain in South Africa.
A study conducted by Pfizer found that the new highly contagious strains found in the UK and South Africa had only a small impact on the effectiveness of their vaccine. Still, Pfizer is developing a booster injection to help protect against new variants. Moderna and Novavax are also developing modified vaccines.