Pfizer’s Profits Surge on Soaring COVID-19 Vaccine Sales

1 month ago 25

Pfizer reported that some income and profits much than doubled successful the 3rd 4th of this twelvemonth compared to the year-ago period, with the better-than-expected results coming connected the backmost of soaring income of its COVID-19 vaccine.

In its Nov. 1 earnings study (pdf), Pfizer boasted third-quarter revenues of $24.1 billion, a 134 percent boost compared to the 3rd 4th of 2020. Sales of its COVID-19 vaccine—Comirnaty—accounted for $13.0 cardinal of revenues, oregon 54 percent.

Pfizer’s profits soared 133 percent to $7.7 cardinal successful the 3rd 4th compared to the year-ago quarter.

“I proceed to beryllium precise pleased with the mode our concern is performing successful 2021, some including and excluding the important contributions of Comirnaty to our results,” said Frank D’Amelio, Pfizer’s Chief Financial Officer, successful a statement.

The pharmaceutical elephantine besides raised its full-year income forecast to betwixt $81 cardinal and $82 billion, up from a erstwhile scope of $78 cardinal to $80 billion.

Pfizer besides boosted its full-year income forecast for its COVID-19 vaccine by 7.5 percent to $36.0 billion, as it signs deals with countries for booster doses and receives clearances for utilizing its shots successful broader property groups.

Dr. Albert Bourla, Pfizer’s Chief Executive Officer, said connected an net telephone (pdf) that, to date, Pfizer has produced 2.6 cardinal doses of its COVID-19 vaccine, and shipped 2 cardinal of them to 152 countries and territories.

“More than 75 percent of the revenues we person recorded up done third-quarter 2021 for Comirnaty person travel from supplying countries extracurricular the U.S., and we stay connected way to execute our extremity of delivering astatine slightest 2 cardinal doses to low- and middle-income countries by the extremity of 2022,” Bourla said successful a statement.

Bourla said Pfizer’s is connected way to manufacture astir 3 cardinal doses of Comirnaty this year.

Pfizer’s net merchandise comes arsenic the institution awaits the result of a U.S. regulatory gathering aboriginal successful the time connected utilizing its shots successful children aged 5 to 11.

The Food and Drug Administration (FDA) connected Oct. 29 issued an exigency authorization to usage Pfizer’s COVID-19 vaccine successful children aged 5 done 11, but earlier the shots tin beryllium distributed crossed the United States, the Centers for Disease Control and Prevention (CDC) indispensable archetypal motion disconnected connected the move.

“The FDA has determined this Pfizer vaccine has met the criteria for exigency usage authorization,” the FDA said successful a release. “Based connected the totality of technological grounds available, the known and imaginable benefits of the Pfizer-BioNTech COVID-19 vaccine successful individuals down to 5 years of property outweigh the known and imaginable risks.”

The FDA said that the agency’s and CDC’s surveillance systems antecedently identified higher risks of myocarditis—inflammation of the bosom muscle—and pericarditis—inflammation of the insubstantial surrounding the heart—after males aged 12 to 17 got the Pfizer vaccine. The FDA added that, based connected its ain modeling to gauge the risk-benefit ratio for children aged 5 to 11, the bureau “predicts that overall, the benefits of the vaccine would outweigh its risks successful children 5 done 11 years of age.”

Harvard University prof of medicine Martin Kulldorff, meanwhile, told EpochTV’s “American Thought Leaders” program that helium believes children should not get the COVID-19 vaccine.

“I don’t deliberation children should beryllium vaccinated for COVID. I’m a immense instrumentality of vaccinating children for measles, for mumps, for polio, for rotavirus, and galore different diseases, that’s critical. But COVID is not a immense menace to children,” said Kulldorff, who has often criticized the national government’s vaccine mandates connected societal media.

In the interview, Kulldorf pointed to information showing that children person a precise debased accidental of hospitalization, death, oregon semipermanent effects from COVID-19.

Jack Phillips and Zachary Stieber contributed to this report.

Tom Ozimek

Follow

Tom Ozimek has a wide inheritance successful journalism, deposit insurance, selling and communications, and big education. The champion penning proposal he's ever heard is from Roy Peter Clark: 'Hit your target' and 'leave the champion for last.'

More articles from this author

EPOCH TV