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Tags: Financial Markets | Infrastructure | Money | Pfizer | Results

Pfizer Tops Q3 Forecasts as Total COVID Vaccine Sales Soar

Pfizer
(AP)

Tuesday, 02 November 2021 07:39 AM

Pfizer beat third-quarter expectations and raised its 2021 forecast again even as sales of its top product, the COVID-19 vaccine Comirnaty, slipped in the U.S.

Soaring international sales of the preventive shots helped pushed total Comirnaty revenue close to $13 billion in the quarter, and the drugmaker said Tuesday that it now expects to book about $36 billion in sales from the vaccine this year.

That’s up from a second-quarter forecast for $33.5 billion and more than twice what Pfizer expected at the start of the year.

In the U.S., third-quarter sales of the vaccine fell to $1.59 billion from a little over $2 billion the previous quarter.

Analysts expected that, as demand fell following the rush to get shots shortly after vaccine eligibility expanded in the spring. But demand appears to be picking up again and will be helped by booster shots and an expected authorization for the vaccine in children, Mizuho Securities USA analyst Dr. Vamil Divan said in a recent note.

Overall, Pfizer earned $8.15 billion in the third quarter, with adjusted results totaling $1.34 per share. The company’s total revenue more than doubled to $24.09 billion.

Analysts expected, on average, third-quarter earnings of $1.08 per share from Pfizer on about $22.58 billion in revenue, according to FactSet.

New York-based Pfizer Inc. now expects 2021 adjusted earnings of $4.13 to $4.18 per share on revenue ranging from $81 billion to $82 billion.

For 2021, analysts forecast earnings of $4.04 per share on $78.77 billion in revenue.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Pfizer beat third-quarter expectations and raised its 2021 forecast again even as sales of its top product, the COVID-19 vaccine Comirnaty, slipped in the U.S.
Pfizer, Results
249
2021-39-02
Tuesday, 02 November 2021 07:39 AM
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