The US drugmaker Pfizer has smashed its sales forecasts and now expects to bring in $26bn (£19bn) of revenue from its Covid-19 vaccine this year, with its soaraway product accounting for more than a third of the company’s annual income. The new sales estimate is based on contracts signed so far for the delivery of 1.6bn doses globally this year. Its vast vaccine sales are expected to push the firm into profit for the first time. Pfizer had previously been forecasting total annual revenues of up to $61bn and earnings a share of $3.10 to $3.20. That rose by 20% in the quarter year-on-year, mainly because of the cost of developing the vaccine and treatments for Covid-19.

Source: The Guardian May 04, 2021 13:12 UTC