Covid-19
Pfizer to make $15bn from sales of COVID-19 vaccines in 2021
World’s leading drug maker, Pfizer, says it expects its Covid-19 vaccines to generate around $15bn in 2021.
The company is working round the clock in order to deliver two billion doses of the vaccine this year alone at a breakneck pace as nations rush to sign supply deals in an effort to control the worst pandemic seen in humanity taking into account it has killed over 2 million people globally.
Edward Jones analyst, Ashtyn Evans told Reuters, “2021 earnings and sales will see a significant benefit from the vaccine, and this benefit could increase throughout the year.”
Pfizer also revealed it had supplied 65 million doses worldwide and 29 million doses in the world’s largest economy, the US, as of Jan. 31. It expects to supply 200 million doses to the U.S. government by the end of May.
Its biggest contracts so far have charged countries around $19 per dose. Pfizer and BioNTech split the gross profit from the vaccine by half under their partnership agreement.
At the time of writing this report, Pfizer shares were down 2.63%, trading at $34.86 at the New York Stock exchange, as investors pulled back some of their long positions.
Revenues for the fourth quarter were $11.7 billion, just above the FactSet consensus of $11.5 billion.
Frank D’Amelio, Chief Financial Officer and Executive Vice President, Global Supply, stated: “I am very pleased with how our company performed in 2020, and particularly in the fourth quarter, where we achieved double-digit operational revenue growth driven by a wide range of products and geographies, including growth within all of our therapeutic areas.
“I was also pleased that Pfizer completed the transaction to combine Upjohn with Mylan to form Viatris in the fourth quarter, which I believe positions both Pfizer and Viatris for a bright future.
“I feel confident in our ability to continue to perform well and deliver on our commitments in 2021 and beyond, both to our patients and to our shareholders.
