Pfizer hikes 2021 outlook after vaccine boosts sales, profit
Strong sales of its COVID-19 vaccine and other medicines helped Pfizer nearly double its second-quarter revenue and boost its profit an impressive 59%, beating Wall Street expectations and leading the drug giant to sharply hike its 2021 sales and profit forecasts.
Amid the surging coronavirus pandemic, the COVID-19 vaccine became Pfizer’s top seller, bringing in nearly half its revenue — $7.84 billion from direct sales and revenue split with its partner, Germany’s BioNTech.
Pfizer now anticipates revenue from the two-dose vaccine this year to reach $33.5 billion for the 2.1 billion doses it’s contracted to provide by year end. That doesn’t include a contract struck last week to provide an additional 200 million doses to the U.S.