Pfizer Inc said it expected 2021 sales of the COVID-19 vaccine it developed to reach $36 billion and forecast another $29 billion from the shot in 2022, topping analyst estimates for both years.
The U.S. drugmaker said it is seeking to sign more vaccine deals with countries, which could drive sales even higher next year. It has the capacity to produce 4 billion doses in 2022 and has based its projections on sales of 1.7 billion doses.
Chief Executive Albert Bourla said he was concerned that low- and middle-income countries would not place orders for next year's vaccine doses early enough, and could again end up behind wealthier countries.
Pfizer said it expects to deliver at least one billion doses of its vaccine to low- and middle- income countries next year.
Beyond 2022, Pfizer said it expects the market for COVID-19 vaccines to be durable, and continue generating sales for years to come.
Pfizer said it is planning for private markets for the vaccine to emerge sometime in the foreseeable future, particularly in the United States. But Bourla said Pfizer may yet sign another big supply contract with the U.S. government.
Pfizer shares were up more than 5% at $45.92.
Wall Street on average expected COVID-19 vaccine sales of $35.44 billion this year and $22.15 billion for 2022, according to Refinitiv data.
Analysts have said that Pfizer and other COVID-19 vaccine makers stand to reap billions of dollars from annual vaccine boosters over the next few years.
Sales of the vaccine, called Comirnaty, have vastly outpaced those from rivals Moderna and Johnson & Johnson, who have been unable to keep up with Pfizer's manufacturing scale-up. read more
The company is on track to deliver 2.3 billion doses of the vaccine, out of the roughly 3 billion it plans to produce this year.
Pfizer is also studying an experimental antiviral drug to treat COVID-19. If it receives authorization, they could start supplying doses before the end of the year.
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