Pfizer Raises $3.5 Billion from Coronavirus Vaccines in First Quarter of 2021
Headline Roundup May 4th, 2021
Pfizer raised $3.5 billion in revenues from its coronavirus vaccine in the first quarter of 2021, the company announced Tuesday morning. This exceeded analysts’ expectations and accounted for 24% of the company’s $14.6 billion in quarterly earnings. Pfizer also raised its forecast for total 2021 coronavirus vaccine sales by over 70% to $26 billion; Moderna has forecasted $18.4 billion in 2021 vaccine sales. Pfizer CEO Albert Bourla told investors a “durable demand” for the vaccine, “similar to that of the flu vaccines,” was likely. The earnings report comes as calls grow to waive coronavirus vaccine patents, which would allow countries to manufacture the life-saving vaccines while cutting profits for Pfizer and Moderna; AstraZeneca and Johnson & Johnson have pledged not to profit off of their vaccines.
Coverage was less common in right-rated outlets and more prominently featured in business-focused outlets. Coverage in some left-rated outlets discussed related issues like global vaccine distribution and pricing.
Last year, racing to develop a vaccine in record time, Pfizer made a big decision: Unlike several rival manufacturers, which vowed to forgo profits on their shots during the Covid-19 pandemic, Pfizer planned to profit on its vaccine.
On Tuesday, the company announced just how much money the shot is generating.
The vaccine brought in $3.5 billion in revenue in the first three months of this year, nearly a quarter of its total revenue, Pfizer reported. The vaccine was, far and away, Pfizer’s biggest source of revenue.
The company did...
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.
The company also said Tuesday it is working on making the two-dose shot easier for vaccinators to administer and store. It has begun studying an updated version of the vaccine for the dangerous Covid-19 variant first identified in South Africa.
The Pfizer vaccine is the most-administered of the three Covid-19 vaccines cleared for use in...
Pfizer said Tuesday it expects to do $26 billion in sales this year from its two-shot COVID-19 vaccine alone.
That’s up more than 70 percent from its last forecast, largely thanks to new contracts signed with countries struggling to get their hands on vaccine doses.
The estimate assumes that Pfizer will deliver 1.6 billion doses of its COVID-19 vaccine in 2021. Across all of its products, Pfizer said in its first-quarter earnings report that it expects to make between $70.5 billion and $72.5 billion in revenue this year.