Headline RoundupMay 4th, 2021

Pfizer Raises $3.5 Billion from Coronavirus Vaccines in First Quarter of 2021

Summary from the AllSides News Team

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.

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