Pfizer bets on vaccine demand for years

Revenue from the vaccine is expected to account for more than one third of Pfizer's full-year sales this year.

06 May 2021 | Business

Manas Mishra and Michael Erman - Pfizer Inc has raised its forecast for 2021 Covid-19 vaccine sales by more than 70% to US$26 billion and said demand from governments around the world trying to halt the pandemic could contribute to its growth for years to come.

The company said it expects by the end of this month to file for full approval of the vaccine for people over the age of 16 in the United States, where it is currently only authorised for emergency use. It also expects to hear soon from US regulators on the expansion of the vaccine's emergency use authorisation (EUA) for children ages 12-15.

Revenue from the vaccine - developed with German partner BioNTech SE - is expected to account for more than one third of Pfizer's full-year sales this year.

The forecast is based on already signed contracts for 1.6 billion vaccine doses to be delivered this year. The company said it expects to sign more deals for this year and is in supply talks with several countries for 2022 and beyond.

"Based on what we've seen, we believe that a durable demand for our Covid-19 vaccine - similar to that of the flu vaccines - is a likely outcome," chief executive Albert Bourla said.

TOP SELLER

The two-shot vaccine was Pfizer's top-selling product in the first quarter. Expenses and profit from the vaccine are split 50-50 between Pfizer and BioNTech.

Given persistent infections globally and ongoing discussions with governments, Mizuho analyst Vamil Divan said the 2021 forecast could increase further and also spill over to latter years.

Daily vaccination rates for adults in the United States have started to slow, off more than 25% since hitting a peak in mid-April. Authorisation in younger children would expand the vaccine-eligible population by millions of people.

Pfizer said it expects to have safety and efficacy data for children ages 2 to 11 in September, when it plans to ask for further expansion of the EUA for that age group.

PROFIT

Pfizer and BioNTech aim to produce up to 2.5 billion Covid-19 vaccine doses this year, 900 million of which are not yet included in the New York-based drugmaker's sales forecast.

If Pfizer sells that number of doses at similar prices, the vaccine's sales in 2021 could be more than 50% above the projected US$26 billion.

Moderna has forecast US$18.4 billion in 2021 sales of its similar Covid-19 vaccine.

Pfizer has said it expects to profit from the vaccine, while some drugmakers including Johnson & Johnson have said their vaccine will be sold on a not-for-profit basis until the end of the pandemic.

Pfizer aims to manufacture at least 3 billion doses of the vaccine next year. It generated US$3.5 billion in revenue in the first quarter, exceeding analysts' estimates of US$3.28 billion, according to IBES data from Refinitiv.

Total revenue for the quarter of US$14.6 billion, topped analyst forecasts of US$13.5 billion. – Nampa/Reuters

Similar News

 

COMPANY NEWS IN BRIEF

20 hours ago | Business

BHP delays decision on Jansen project BHP Group is reviewing two port options for its Jansen potash project in Canada and expects to make a...

The new Nissan Navara now available

20 hours ago | Business

The first Nissan Navara vehicles to be manufactured in Africa by Africans have begun rolling off the Nissan manufacturing production facility in Rosslyn on their...

Company news in brief

1 day - 17 June 2021 | Business

PwC in major ESG pushAccounting firm PwC said on Tuesday it would invest US$12 billion over five years to create 100 000 new jobs aimed...

Namdeb hosts mines, housing ministers

2 days ago - 16 June 2021 | Business

STAFF REPORTERWINDHOEKNamdeb last week hosted a ministerial visit to its operations as part of its stakeholder engagement.The delegation comprised of the minister of mines Tom...

Twoobii takes portable broadband anywhere

3 days ago - 15 June 2021 | Business

STAFF REPORTER - The Twoobii satellite broadband service from Q-KON was recently demonstrated to be a reliable option for convenience and reliability of portable communications...

A new look for Top Score Instant

3 days ago - 15 June 2021 | Business

Augetto Graig Namib Mills is a leader in the supply of staple food in Namibia for a reason. With the launch of their new range...

Company news in brief

3 days ago - 15 June 2021 | Business

Vodafone opts for Samsung in BritainBritish telecoms group Vodafone has chosen Samsung Electronics as vendor for 5G network equipment in Britain, the pair said yesterday,...

SA govt sells majority stake in SAA

4 days ago - 14 June 2021 | Business

Nqobile Dludla - The South African government is selling a 51% stake in South African Airways (SAA) to Takatso consortium, which will initially commit more...

Watchdog likely to reach settlement with MTN, Telkom

4 days ago - 14 June 2021 | Business

South Africa's telecoms regulator said on Friday the ongoing negotiations with two companies over litigation related to the government's proposed spectrum auction will be resolved...

SA's rooibos tea on EU protection list

1 week ago - 11 June 2021 | Business

Like champagne, roquefort and Kalamata olives, South Africa's world-famous rooibos tea has been added to a European Union (EU) list of protected agricultural products and...

Latest News

How to impart financial wisdom...

20 hours ago | Columns

Financial confidence is developed at a young age – here’s how you can help.One of the best gifts parents or guardians can give their children...

Mental well-being suits us all

20 hours ago | People

DR JOHN STEYTLERMental health is a subject which we are only starting to scratch the surface of in Namibia and it is not talked about...

Diva of finesse and fitness

20 hours ago | People

Jeanette DiergaardtLiezel Ndjaronguru, a 32-year-old businesswoman, allows fitness enthusiasts to bring their best attitude to the table when working out. In 2013 the owner of...

Bonifatius Kantori Paulino is the...

20 hours ago | People

Wetumwene Shikage Since Paulino joined Alexander Forbes, he spent some time to familiarise himself with the areas of responsibility of the position of...

Covid numbers alarming

20 hours ago | Health

JEMIMA BEUKES WINDHOEKNamibia’s third Covid-19 wave surges on, with the country recording both its highest death toll – 33 – and...

Ethiopia's economic reforms hindered

20 hours ago | Economics

MARION DOUETShortly after taking office, Prime Minister Abiy Ahmed promised a spectacular overhaul of Ethiopia's economy by implementing reforms to spur growth, unshackle the country's...

High-flyer Samantha Geyser soared to...

20 hours ago | People

Staff reporterSamantha Geyser dreamed of becoming a pilot when she was a young girl. She admired Amelia Earhart for her achievement of being the first...

Gweri Vintage Collection – the...

20 hours ago | People

Zulu Boy sets the trend for creativity Created by Namibians for international consumption The Gweri Vintage Collection is a brand focused on providing exclusive and...

EDITORIAL: The good and bad...

20 hours ago | Opinion

Zambia’s founding president Kenneth Kaunda passed away yesterday – and Namibia owes him a debt of eternal gratitude.Kaunda was a witty politician, revered statesman and...

Load More