Pfizer hikes 2021 outlook after vaccine boosts sales, profit

Business Hala2021-08-04

Strong sales of its COVID-19 vaccine and other drugs helped Pfizer nearly double its second-quarter revenue and boost its profit by 59%, beating Wall Street’s expectations. Strong sales of its COVID-...

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Comments

james_l
2021-08-04
james_l
No wonder they are pushing hard for the booster dose
Dave Fu
2021-08-04
Dave Fu
Hold
- T20211126001:
  Yes
VoN
2021-08-04
VoN
Wow!
AntonyGeorge
2021-08-04
AntonyGeorge
Good good
- AntonyGeorge:
  good
377tkr
2021-08-04
377tkr
More profits
Mars88
2021-08-04
Mars88
Up

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Helped to rapidly increase sales and profit forecasts.\nAmid the growing coronavirus pandemic, the COVID-19 vaccine became Pfizer’s top seller, generating nearly half of its revenue — $7.84 billion from direct sales and revenue splitting with its partner, Germany’s BioNTech.\nPfizer now forecasts revenue from the two-dose vaccine this year to reach $33.5 billion for the 2.1 billion doses it has been contracted to provide by the end of the year. This does not include the contract signed last week to provide an additional 200 million doses to the US\nThe New York company revealed on Wednesday that an ongoing trial of a booster shot given six months after the second vaccine dose showed that it increased antibody levels against the more-transmissible delta variant to 11 times higher in older people and younger people. increased more than five times. , compared to levels after two doses. The company also released data showing that six months after vaccination, the shots were 97% effective at preventing serious disease.\n“We are absolutely convinced that a booster will be needed,” CEO Albert Boerla said in an interview, “that a third dose of the original vaccine may be sufficient.” Still, in August Pfizer will begin testing a booster targeting the Delta version in volunteers, because “there’s so much at stake, you can’t take the risk.”\nBourla said Pfizer has delivered more than 1 billion doses of the vaccine globally and expects to make 3 billion doses this year, with many more going to low- and middle-income countries. So far, most of the doses of all COVID-19 vaccines produced in Europe and the US have gone to rich countries.\nBy the end of September, trials in 5- to 11-year-old volunteers should produce the safety and efficacy data necessary to obtain emergency use authorization in that age group, and data on trials in children 6 months to 5 years of age should be used. must comply. Soon according to Pfizer.\nThe US Food and Drug Administration is now reviewing data that could lead to full approval of the vaccine for adults, which Borla said could reduce hesitation from vaccination.\nSecond-quarter net income was $5.56 billion, or 98 cents per share, up from $3.49 billion, or 62 cents per share.\nAdjusted earnings, excluding one-time gains and losses, amounted to $6.08 billion, or $1.07 per share, significantly higher than Wall Street’s 97 cents.\nIts quarterly revenue of $18.98 billion is up from last year’s $9.86 billion, and also topped estimates.\nPfizer shares rose $1.46, or 3.5%, to $43.56, near a 52-week high.\nSales of Pfizer’s drugs for cancer and rare diseases, as well as drugs primarily used in hospitals, grew double-digit. Sales of Eliquis for preventing blood clots and stroke rose 16% to $1.48 billion, while Ibrance’s sales rose 4% to $1.4 billion in the quarter.\nPfizer’s pneumonia vaccine Prevnar 13 – the world’s most lucrative vaccine by far – climbed 11% in sales to $1.24 billion amid the pandemic. The company won US approval in June for Prevnar 20, an updated version for adults that protects against seven more strains of pneumococcal disease.\nIn May, Pfizer and partner Myovent received approval for MyFembry to reduce heavy menstrual bleeding due to uterine fibroids in premenopausal women.\nPfizer’s head of research Mikel Dolstein outlined eight major research programs with the potential to have a major impact on public health, including a pill to treat COVID-19 and vaccines against Lyme disease and respiratory syncytial virus, which occur each year. Infects and kills more than 5% of adults. about 15,000 of them in the US\nPfizer now expects adjusted full-year earnings in the range of $3.95 to $4.05 per share, up from its May forecast of $3.55 to $3.65 per share, and revenue in the range of $78 billion to $80 billion. , from $70.5 billion to $72.5 billion.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":807783428,"gmtCreate":1628057921564,"gmtModify":1703500435216,"author":{"id":"3563436875655076","authorId":"3563436875655076","name":"james_l","avatar":"https://static.tigerbbs.com/7960ea5c640db331ff2de0da32f6a611","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3563436875655076","authorIdStr":"3563436875655076"},"htmlText":"No wonder they are pushing hard for the booster dose","listText":"No wonder they are pushing hard for the booster dose","text":"No wonder they are pushing hard for the booster dose","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807783428","repostId":1156524625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":807797697,"gmtCreate":1628055873519,"gmtModify":1703500398845,"author":{"id":"3582630305022272","authorId":"3582630305022272","name":"Dave 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good","listText":"Good good","text":"Good good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/807798410","repostId":1156524625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5422104,"gmtCreate":1628055574007,"gmtModify":1663231906927,"authorId":3575960528012254,"author":{"id":3575960528012254,"idStr":"3575960528012254","authorId":3575960528012254,"name":"AntonyGeorge","avatar":"https://static.tigerbbs.com/42c9567b5a3657003840b0dc4fcee15c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":807798410,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"}],"langContent":"EN"},{"id":807798283,"gmtCreate":1628055557542,"gmtModify":1703500391872,"author":{"id":"3582001642809284","authorId":"3582001642809284","name":"377tkr","avatar":"https://static.tigerbbs.com/25cbfadab64a300119ffe30a37937ff2","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3582001642809284","authorIdStr":"3582001642809284"},"htmlText":"More profits","listText":"More profits","text":"More profits","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807798283","repostId":1156524625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":807793176,"gmtCreate":1628055358495,"gmtModify":1703500388381,"author":{"id":"4090063551790850","authorId":"4090063551790850","name":"Mars88","avatar":"https://static.tigerbbs.com/4f201f6f5c401c1ecccac427506bf843","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4090063551790850","authorIdStr":"4090063551790850"},"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807793176","repostId":1156524625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":60,"commentSize":23,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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