Pfizer Ups Vaccines Sales Forecast This Year To $33.5B

Pfizer Inc. earlier in the week raised its full-year sales forecast for the COVID-19 vaccine it developed with Germany's BioNTech by 29% to $33.5 billion, as nations stock up on doses for the rest of the year, Manas Mishra and Michael Erman reported for Reuters.

Photo Insert: The Pfizer-BioNTech COVID-19 vaccine was the first to be given emergency authorization use (EUA) by the U.S. Food and Drug Administration

The company also said it could apply for an emergency use authorization for a potential booster dose as early as August, reiterating that a third shot will likely be needed to enhance protection amid the resurgence in infections in many countries.

New early data showed that a third dose generated virus-neutralizing antibodies more than 5 times higher in younger people and more than 11 times higher in older people than from two doses, Pfizer said as its shares were up 2% at $42.98 in morning trading.

The drugmaker, whose shot was authorized in the United States, Europe and other regions around the world in December of 2020, has won new orders as rivals such as AstraZeneca and Johnson & Johnson have faced manufacturing and safety hurdles.

Pfizer also competes with US mRNA vaccine maker Moderna Inc., which has not been able to scale up production as quickly as its much larger rival.

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