Since February, Pfizer has more than doubled its Covid-19 vaccine sales forecast for 2021 and predicts that 2022 will be another bumper year as it expands its global distribution and begins Shipped for boosters and children.
The American company said on Tuesday that it expects sales this year to reach 36 billion U.S. dollars and 29 billion U.S. dollars in 2022, highlighting how vaccines developed in collaboration with German partner BioNTech can dominate the global market and change the company’s financial situation.
The group and BioNTech evenly shared Covid sales profits, and direct sales in the third quarter were US$13 billion. A poll by Refinitiv shows that analysts previously predicted that the average revenue from Covid vaccines was slightly less than $11 billion.
Pfizer has repeatedly raised its Covid vaccine sales forecast for 2021. It expects annual sales of 15 billion U.S. dollars in February, and then increased it to 33.5 billion U.S. dollars in July.
SVB Leerink analyst Geoffrey Porges said: “Pfizer has already dominated the Covid vaccine race and may consolidate its position in the coming months.”
“They have always outflanked their opponents, and they have done all of this without real government support-take off their hats.”
Pfizer’s Jab’s 4-week average market share in the US increased from approximately 56% in April to 74% on October 31. In the European Union, it increased from about 70% to about 80% in the same period, according to a report by Pfizer.
Pfizer has avoided many controversies affecting its competitors, such as Moderna, Johnson & Johnson, and AstraZeneca. These controversies are related to rare side effects such as myocarditis and thrombosis. Pfizer injection is the first injection approved by the US regulatory agency and authorized for emergency use of injections for children and enhanced injections.
However, Pfizer has been criticized by some NGOs for delaying delivery of vaccines to developing countries, especially in Africa, where only 6% of the population is fully vaccinated.
Pfizer CEO Albert Bourla said the company is increasing its supply to low- and middle-income countries. Three-quarters of vaccine revenue generated in the third quarter came from supplier countries outside the United States.
“We are still on track to achieve the goal of providing at least 2 billion doses of vaccines to low- and middle-income countries by the end of 2022-at least 1 billion doses this year, and at least 1 billion doses next year,” he added.
Due to the vaccine’s success, Pfizer has raised its 2021 full-year revenue forecast to between US$81 billion and US$82 billion. The previous forecast was 78 to 80 billion U.S. dollars. The company said that after adjusting the acquisition-related costs and other major items, earnings per share are expected to be between US$4.13 and US$4.18, higher than previous expectations of US$3.95 to US$4.05.