Pfizer's Covid-19 Vaccine Lifts Quarterly Results
Pfizer Inc. said it expects its Covid-19 vaccine to generate about $26 billion in sales this year, a major increase from several months ago that reflects the shot's growing role in the global vaccination campaign. Pfizer rose 12 cents, or 0.3%, to $39.95. The Pfizer vaccine is the most-administered of the three Covid-19 vaccines cleared for use in the U.S. and increasingly is available around the world. Pfizer raised its vaccine sales forecast from $15 billion earlier this year as more countries sign supply agreements. The two-dose shot, which Pfizer developed with BioNTech SE, contributed $3.5 billion to the company's $14.6 billion overall sales during the first three months of the year, Pfizer said. Pfizer and BioNTech are waiting on decisions from U.S. and European regulators, who are considering whether to authorize the vaccine for children as young as 12 years old. Quarterly sales also rose in Pfizer's divisions for oncology, internal medicine and hospital products, along with sales of other drugs in its portfolio.