Pfizer's COVID vaccine success is worth an extra $14 billion to the US pharma giant

World 01:14 PM - 2021-05-05

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The success of its COVID vaccine, and the challenges faced by some of its rivals, look set to earn US pharmaceutical giant Pfizer at least an extra $US11 billion ($14.2 billion) in revenue this year.

 

The company now expects to pull in $US26 billion ($33.6 billion) of income from its COVID-19 vaccine this year, based on contracts signed up to mid-April, up from an earlier estimate of $US15 billion.

 

The Australian government was one of those customers that upped its initial order, contracting for an extra 20 million doses by the end of the year, making a total of 40 million.

 

Pfizer now has contracts in place for 1.6 billion doses of its vaccine to be delivered in 2021, enough to vaccinate 800 million people.

 

However, the company said it hoped to have manufacturing capacity to produce up to 2.5 billion doses this year and 3 billion in 2022, meaning revenue from the vaccine could grow further still.

 

The increase in capacity is dependent on expanding output at current facilities and signing up other firms to manufacture the vaccine on contract.

 

 

 

PUKmedia