Pfizer raises Covid vaccine sales forecast to $33.5B for 2021
International desk || shiningbd
Pfizer raised its revenue forecast from coronavirus vaccine sales to $33.5 billion for 2021, according to financial results statement released Wednesday.
The US pharmaceutical firm's previous estimates were $26 billion and $15 billion, made in May and February, respectively.
The revised projection in revenue from the BNT162b2 vaccine, which was developed with German partner BioNTech, reflects 2.1 billion doses that are expected to be delivered under contracts signed through mid-July, said the statement.
Pfizer's total revenue increased 92% to $18.98 billion in the second quarter, up from $9.86 billion during the same period last year.
The company said BNT162b2 contributed $7.8 billion in direct sales and alliance revenues.
Net income increased 59% to $5.56 billion, from $3.49 billion, year-over-year.
Pfizer stocks were up 2.9% to $43.24 around 11.26 a.m. on the New York Stock Exchange, just shy of its record of $43.35.