A person passing by the Pfizer Building in New York City on March 2, 2021.
Carlo Allegri | Reuters
Pfizer On Wednesday, it sold $ 7.8 billion in Covid-19 shots in the second quarter, raising its 2021 vaccine sales forecast from $ 26 billion to $ 33.5 billion. As the delta mutation spreads, scientists are arguing whether booster shots are needed.
The company’s second-quarter results also exceeded Wall Street’s earnings and revenue expectations. According to the average estimate compiled by Refinitiv, Pfizer compared Wall Street’s expectations to:
- Adjusted earnings per share: $ 1.07 per share vs. expected 97 cents per share
- Revenue: $ 18.98 billion vs. $ 18.74 billion forecast
Pfizer expects adjusted pre-tax profits in the high range of 20% of vaccine revenue.
The company currently expects annual earnings in the range of $ 3.95 to $ 4.05 per share. This is up from the previous range of $ 3.55 to $ 3.65 per share. Revenues are expected to range from $ 70.5 billion to $ 80 billion, up from the previous estimate of $ 70.5 billion to $ 72.5 billion.
Pfizer shares fell 0.4% in pre-market transactions.
“The second quarter is noteworthy in many ways,” Pfizer CEO Albert Bourla said in a statement. “The most visible is the speed and efficiency of our efforts. BioNTech Supporting global vaccination against COVID-19 is unprecedented, with more than a billion BNT162b2s currently delivered worldwide. “
Pfizer’s other business units also experienced strong sales growth. Revenues from the oncology sector were $ 3.1 billion, up 19% year-on-year. The company’s hospital division revenue was $ 2.2 billion, up 21% from the previous year. The internal medicine sector increased 5% from a year ago to $ 2.4 billion.
Pfizer said earlier this month that the Covid vaccine with German drug company BioNTech showed signs of weakening immunity and would ask the Food and Drug Administration to allow boosters. He also states that he is developing a booster shot that targets the Delta variant.
Pfizer said in a slide posted Wednesday with a earnings report that it could apply to the FDA for an emergency use of booster doses as early as August. We plan to begin testing the Delta Variant vaccine in the same month.
Full approval of the double-dose vaccine is expected by January 2022.
Pfizer PFE Revenues Q2 2021
Source link Pfizer PFE Revenues Q2 2021