The American laboratory Pfizer has revised up its annual forecasts and expects to earn about 26,000 million dollars (21,581 million euros) with the commercialization of the vaccine against covid-19 that it has developed together with the German BioNTech, which represents a 73 % more than previously estimated. For now, in the first quarter, the coronavirus drug has already earned it more than $ 3.4 billion, helping its vaccine division triple its revenue.
The pharmaceutical group expects to invoice in 2021 between 70,500 and 72,500 million dollars (58,519 and 60,179 million euros), above the previous forecasts, of between 59,400 and 61,400 million dollars (49,305 and 50,965 million euros). The multinational has revised up its expectations of earnings per share to a range of between 3.55 and 3.65 dollars from the previous range of between 3.10 and 3.20 dollars.
In the first three months of 2021, Pfizer posted an attributable net profit of $ 4,877 million (€ 4,048 million), which represents an increase of 45.4% compared to the result recorded a year earlier. The multinational’s turnover between January and March amounted to 14,582 million dollars (12,104 million euros), 44.6% more than a year earlier.
The vaccine business grows 204%
Much of Pfizer’s growth in numbers is due to the vaccine business, which includes Covid-19. Thus, Pfizer’s vaccines division entered between January and March 4,894 million dollars (4,062 million euros), 204% more than a year earlier. Of that figure, more than two-thirds, 3,462 million dollars (2,873 million euros), corresponded to the sale of the vaccine against Covid-19.
For its part, Pfizer’s oncology area billed a total of 2,862 million dollars (2,376 million euros) in the first quarter, 17.5% more, while the internal medicine division increased its sales by 11.2%. revenues, up to 2,594 million dollars (2,153 million euros) and the hospital area 12%, up to 2,343 million dollars (1,945 million euros).
“I am very proud of the way we started 2021 with strong financial results in the first quarter,” said Albert Bourla, Pfizer President and CEO.