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Pfizer expects Covid vaccine demand for years | Pfizer expects Covid vaccine demand for years |
(31 minutes later) | |
Demand for Pfizer's Covid vaccine could bolster its revenues for years, the US drugs giant has said. | Demand for Pfizer's Covid vaccine could bolster its revenues for years, the US drugs giant has said. |
Pfizer said it was expecting "durable demand" for the vaccine, in a similar way to flu vaccines. | Pfizer said it was expecting "durable demand" for the vaccine, in a similar way to flu vaccines. |
In the first three months of 2021, the vaccine generated revenues of $3.5bn (£2.5bn) as governments scrambled to try to contain the pandemic. | In the first three months of 2021, the vaccine generated revenues of $3.5bn (£2.5bn) as governments scrambled to try to contain the pandemic. |
Revenue from the treatment is expected to account for more than one third of Pfizer's full-year sales this year. | Revenue from the treatment is expected to account for more than one third of Pfizer's full-year sales this year. |
The forecast is based on already-signed contracts for 1.6 billion vaccine doses to be delivered this year. | The forecast is based on already-signed contracts for 1.6 billion vaccine doses to be delivered this year. |
Pfizer said it expected to sign more deals this year, and was in supply talks with several countries for 2022 and beyond. | Pfizer said it expected to sign more deals this year, and was in supply talks with several countries for 2022 and beyond. |
Covid vaccines: Will drug companies make bumper profits? | Covid vaccines: Will drug companies make bumper profits? |
"Based on what we've seen, we believe that a durable demand for our Covid-19 vaccine - similar to that of the flu vaccines - is a likely outcome," said chief executive Albert Bourla. | "Based on what we've seen, we believe that a durable demand for our Covid-19 vaccine - similar to that of the flu vaccines - is a likely outcome," said chief executive Albert Bourla. |
The two-shot vaccine was Pfizer's top-selling product in the first quarter. | The two-shot vaccine was Pfizer's top-selling product in the first quarter. |
Expenses and profit from the vaccine are split 50-50 between Pfizer and its German partner BioNTech. | Expenses and profit from the vaccine are split 50-50 between Pfizer and its German partner BioNTech. |
Pfizer and fellow US firm Moderna profit from their vaccines, while AstraZeneca and US giant Johnson & Johnson are supplying theirs at cost price while the pandemic continues. | Pfizer and fellow US firm Moderna profit from their vaccines, while AstraZeneca and US giant Johnson & Johnson are supplying theirs at cost price while the pandemic continues. |
Pfizer recently signed a contract with the UK to supply 60 million additional doses in 2021. | |
It is testing the use of a third dose of its vaccine as a booster, and expects the US to give the go-ahead for it to be used in children between 12 and 15 years old during the pandemic. | |
It is also testing the safety and efficacy of the vaccine in children from six months to 11 years old, it said in a prepared statement. |