Pfizer has increased its expectation for Covid vaccine sales to $36 billion in 2021.
Pfizer boosted its income expectation from coronavirus vaccine sales to USD36 billion (PHP1.8 trillion) for 2021, according to a financial statement released Tuesday.
Previous predictions for 2021 from the US pharmaceutical industry were USD33.5 billion in July, and USD26 billion and USD15 billion in May and February, respectively.
According to the business, the increased revision in the sales projection is due to greater vaccine doses expected to be distributed in 2021, totalling an anticipated 2.3 billion globally.
The US Food and Drug Administration authorized Pfizer-Covid-19 BioNTech’s vaccine for children aged 5 to 11 on Friday, paving the way for millions more jabs in children’s arms.
In the third quarter, Pfizer’s sales increased by 134 percent to USD24.1 billion, up from USD10.27 billion the previous year.
On the New York Stock Exchange, its stock rose 3.3 percent to USD45.09.