Pfizer’s long range vaccine pursuits pay off
Pfizer, buoyed by a huge jump in sales for its COVID-19 vaccine and solid first-quarter performance across most of the company, hiked its 2021 financial forecast after sharply after blowing past Wall Street expectations.
The company, along with its German partner BioNTech, now anticipate sustained revenue from their COVID-19 vaccine with the world far from herd immunity against the virus. New contracts to supply vaccines to countries as far out as 2024 continue to be signed.
Pfizer on Tuesday almost doubled its sales projections for the vaccine this year, from $15 billion to roughly $26 billion. The partners expect to be able to deliver about 2.5 billion vaccine doses this year, including 300 million doses for the U.S., and already are prepping for what could become annual booster shots.