Huge Windfall: Pfizer Will Rake In $26B For Covid Vaccine Sales In 2021
That would make it the biggest-selling pharmaceutical product in the world. The company, which splits its covid vaccine earnings 50-50 with BioNTech, expects demand to continue for years.
The Washington Post:
Pfizer Coronavirus Vaccine Revenue Projected To Hit $26 Billion In 2021 With Production Surge
Pfizer on Tuesday said it expects global sales of its coronavirus vaccine to reach $26 billion in 2021, a milestone that would make it the biggest-selling pharmaceutical product in the world and helps illustrate why Pfizer is planning to expand use of mRNA technology for other vaccines and therapies. Sales of its mRNA vaccine are likely to eclipse Humira, the rheumatoid arthritis drug made by AbbVie, with annual revenue around $20 billion, currently the world’s top seller. Pfizer had $3.5 billion in coronavirus vaccine sales in the first quarter. (Rowland, 5/4)
Axios:
Pfizer Posts Crazy Good Quarter With Major Assist From COVID Vaccines
Pfizer reported a super strong first quarter, saying it now expects about $26 billion in sales for its COVID-19 vaccine this year. That's up from an earlier projection of about $15 billion. That anticipated windfall comes as the Biden administration announced more ambitious U.S. vaccine goals and the world scrambles to get access to shots. (Reed, 5/5)
ABC News:
Pfizer's Posts $4.9B 1Q Profit As Vaccine Strategy Pays Off
Selling vaccines during a pandemic has boosted Pfizer’s bottom line and proven that a strategy it embarked upon over a decade ago is now paying off handsomely. The New York-based pharmaceutical giant reported Tuesday that it earned $4.9 billion in the first three months of the year and it dramatically raised its profit forecast for all of 2021 thanks to strong demand for its COVID-19 vaccine. The company, along with its German partner BioNTech, anticipate strong revenue from the vaccine and booster shots for the next three years. (Johnson, 5/4)
Also —
BBC News:
Pfizer Expects Covid Vaccine Demand For Years
"Based on what we've seen, we believe that a durable demand for our Covid-19 vaccine - similar to that of the flu vaccines - is a likely outcome," said chief executive Albert Bourla. The two-shot vaccine was Pfizer's top-selling product in the first quarter. Expenses and profit from the vaccine are split 50-50 between Pfizer and its German partner BioNTech. (5/5 )
