Pfizer expects total revenue in sales of CCP virus vaccines it has developed with Germany’s BioNTech to generate roughly $15 billion in 2021.
The New York City-based drugmaker revealed the revenue projection in a statement on Tuesday, adding that the expectation primarily includes doses that are expected to be delivered this year under existing contracts, which may be subject to adjustments as additional contracts are added or removed.
Pfizer, one of the world’s largest pharmaceutical companies, was the first to get U.S. emergency use authorization for a vaccine it developed together with BioNTech in response to the CCP (Chinese Communist Party) virus pandemic, commonly referred to as the novel coronavirus, which causes the disease COVID-19.
It is the first time Pfizer revealed an expectation for its vaccine sales as it strives to deliver 2 billion doses of the vaccine in 2021.
The drugmaker has already supplied 65 million doses globally and 29 million doses to the United States as of Jan. 31. It said it expects to supply 200 million doses to the U.S. government by the end of May.
The company announced forecasts for their CCP virus vaccine sales as it also disclosed a total expected profit for this year, excluding the contributions from the COVID-19 vaccine.
Pfizer forecast 2021 sales of between $44.4 billion to $46.4 billion. With vaccine sales included, the sales are expected to amount to a total of between $59.4 billion and $61.4 billion, with COVID-19 vaccine sales projected to contribute nearly 25 percent.
In contrast, 2020 sales from its best-selling pneumonia vaccine Prevnar 13 represented nearly 14 percent of Pfizer’s sales. Full-year revenue for last year totaled $41.9 billion, an increase of $736 million, or 2 percent, compared to 2019, Pfizer revealed in the statement.
Dr. Albert Bourla, Pfizer’s Chairman and Chief Executive Officer stated that “2020 has been a transformational year,” adding that the companies’ “record-breaking success at developing a vaccine against COVID-19, along with our partner BioNTech, is just one example of what we believe this new Pfizer is capable of achieving.”
“As the world looks forward to 2021 with renewed hope for better days ahead, we also look forward with renewed confidence and resolve in our ability to fulfill our purpose, to deliver breakthroughs that change patients’ lives,” Bourla continued.
The company now expects full-year adjusted earnings of $3.10 to $3.20 per share, up from its prior forecast of $3 to $3.10 per share.
Excluding items, Pfizer earned 42 cents per share, but missed market expectation of 48 cents per share, according to IBES data from Refinitiv.
Reuters contributed to this report.