Salem Radio Network News Saturday, October 23, 2021

Business

Pfizer raises estimates for 2021 sales of COVID-19 vaccine to $33.5 billion

(Reuters) -Pfizer Inc on Wednesday raised its forecast for sales of the COVID-19 vaccine that it developed with Germany’s BioNTech by 28.8% to $33.5 billion, as countries scramble to secure supply of the shots.

The company said the raised sales forecast of the vaccine is based on signed deals for 2.1 billion doses this year.

The drugmaker’s previous forecast in May of $26 billion was based on deals signed for 1.6 billion doses. Wall Street analysts were broadly in line with that forecast at $28.51 billion, according to nine analysts polled by Refinitiv.

Since then, Pfizer has said it expects to produce as much as 3 billion doses this year.

Expenses and profit from the vaccine are split 50-50 between Pfizer and BioNTech.

(Reporting by Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila)

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