Pfizer expecting bumper revenues from Covid vaccine
As Pfizer expands its global distribution of vaccines to include children and booster jabs, the pharmaceutical company confirmed it has doubled its 2021 sales forecast.
The American firm announced on Tuesday that it will make $36bn in sales this year and $29bn in 2022.
The profits Big Pharma is making from COVID-19 vaccines will be revealed this week as both Pfizer and Moderna report Q3 earnings. I’m expecting both companies to post $18 billion in vaccine sales, collectively. Big Pharma continues to get rich.— Nancy Pelosi Portfolio Tracker (@NancyTracker) November 2, 2021
The announcement highlights Pfizer’s continued dominance in providing vaccines throughout the pandemic.
“Pfizer are already dominating the Covid vaccine race and are likely to consolidate their position in the coming months,” Geoffrey Porges, an analyst at SVB Leerink, told the FT.
“They have consistently outflanked their rivals, and they did it all without tangible government support — hats off.”
The year is 2029. House Pfizer is dominating House Moderna in the Great Jab Wars. You’re on your fourteenth Covid booster and it’s not clear which microchip is prohibiting you from accessing Amazon. You pay a ChipKid with crypto to run a total scan, but she turns out to be a Fed.— Kevin Kautzman (@KevinKautzman) September 3, 2021
In Q3, Pfizer made $13bn in direct sales of the Covid jab which it will share with its German partner BioNTech.
Continuing to work with BioNTech, Pfizer is expecting to manufacture 3bn doses before the end of the year, however they will not all be delivered by then.
For 2021, Pfizer has agreed contracts for 1.7bn doses.
The jab was the first to be approved for emergency use in the US for adults last year, with jabs for children and boosters being approved more recently.
Breaking News: The FDA authorized Pfizer-BioNTech's Covid vaccine for children ages 5 to 11. If the CDC signs off, the vaccinations could begin next week. https://t.co/vmmg0SOgsu pic.twitter.com/ptYiJLJfMQ— The New York Times (@nytimes) October 29, 2021
A number of countries, specifically in the West, have begun giving booster shots to the elderly and to those considered vulnerable.
This is despite poorer nations being well behind in terms of people receiving the first dose of the Covid vaccine.
Across the world, around 7.1bn doses have been administered, while around half of earth’s population have received at least one jab.
Rich nations have administered more boosters doses of COVID-19 vaccines in the last 3 months than total doses of vaccines administered in poor nations in the last one year.https://t.co/zpA1seHuDG#VaccineEquity is a distant dream and we should not be #Silent about it. pic.twitter.com/GYD3ZyrQEX— Vinod Scaria (@vinodscaria) November 2, 2021