Here’s how much money Pfizer collected from COVID-19 vaccine shots in Q2
- In terms of revenue and expectations, the company surpassed market expectations.
- Pfizer Inc. sold $7.8 billion worth Covid-19 jabs in the second quarter alone.
- The company has raised the sales forecast for the vaccine from $26 billion to $33.5 billion for 2021.
Pfizer Inc., (NYSE: PFE) announced that the company sold Covid-19 jabs worth $7.8 billion in the second quarter. In addition, the company raised its full-year 2021 sales estimates from the vaccine from $26 billion to $33.5 billion. The data was detailed in the company’s second quarter earnings results and comes during the backdrop of the global spread of the delta variant of the coronavirus.
Q2 results beat market expectations
Pfizer handily surpassed market expectations in its second quarter results as EPS of $1.07 was 10 cents better than expected while revenue of $18.98 billion topped expectations of $18.74 billion. While revenue from the company’s oncology unit rose by 19% year over year, the hospital unit of the company’s revenue is up 21% from the prior year, and its internal medicine unit grew by 5%
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The company has also predicted that its full-year earnings per share will be between $3.95 and $4.05. In addition, Pfizer is expected to register a revenue of $78 billion to $80 billion in terms of annual revenue. The previous revenue estimates of the company were anywhere between $70.5 billion and $72.5 billion.
CEO: Q2 results ‘was remarkable’
CEO of Pfizer Albert Bourla said in the earnings report:
“The second quarter was remarkable in a number of ways. Most visibly, the speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19 have been unprecedented, with now more than a billion doses of BNT162b2 having been delivered globally.”
The company could file for permission for emergency use authorization for a booster dose
Earlier this month, German drugmaker BioNTech (NASDAQ: BNTX) and sources from Pfizer Inc. reported waning immunity induced as a result of using its Covid vaccine. As a result, the corporate house plans to seek the permission of the FDA to authorize a booster dose. According to reports, the pharmaceutical company is developing a booster shot to target the delta variant. If all falls in place, approval for its two-dose vaccine by January 2022 will be sanctioned.