Home Finance Vaccine Sales Lift Pfizer's Quarterly Results

Vaccine Sales Lift Pfizer's Quarterly Results


Vaccine Sales Lift Pfizer's Quarterly Results

Pfizer Inc. raised this year’s sales forecast for its Covid-19 vaccine to about $26 billion, a 73% increase that reflects the shot’s growing role in a long-term global vaccination campaign.

World-wide demand for Covid-19 vaccines will remain in force for at least several years as people seek to maintain protection as the virus circulates, Pfizer Chief Executive Albert Bourla said Tuesday on an earnings conference call with analysts. Booster shots likely will be needed some time at least six months after being vaccinated, and then annually going forward, Mr. Bourla said.

Demand for vaccines still may accelerate, given that the push to get shots in the arms of people around the world is shaping up as a yearslong process with plenty of challenges, especially in poorer countries, Mr. Bourla said. While the U.S. has vaccinated more than 40% of its adult population, much of the rest of the world is still in the early phases of vaccinations.

The surge of coronavirus infections in developing countries such as India amid a relative scarcity of vaccine supply means that the pandemic will continue until mid-2022, according to Uğur Şahin, chief executive of BioNTech SE , which co-developed Pfizer’s Covid-19 vaccine.

Demand for vaccinations has shown signs of leveling off in the U.S., health officials say. CVS Health Co. said Tuesday that demand for Covid-19 vaccinations has fallen by about 30% recently as Americans’ hesitancy to receive the shots outweighs expanding eligibility and access.

Published at Tue, 04 May 2021 22:29:00 +0000

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