Pfizer raises vaccine sales forecast to $26B for 2021

Revenue from vaccines came at $4.9B in first quarter of this year.

Pfizer raises vaccine sales forecast to $26B for 2021

Pfizer expects $26 billion from COVID-19 vaccine sales this year, according to its financial results statement released on Tuesday.

The US pharmaceutical firm's previous estimate in its February statement was $15 billion in revenue from vaccine sales for 2021.

The revised projection in revenue from vaccine named BNT162b2, which was developed with its German partner BioNTech, reflects 1.6 billion doses expected to be delivered this year under signed contracts as of mid-April, it said.

The projected amount may be adjusted in the future as additional contracts are executed, the statement noted.

In addition to the major US market, Pfizer has also entered contracts to supply the vaccine to Canada and Israel beyond 2021, while it is also negotiating contracts with other countries, it added.

Pfizer's total revenue increased 45% to $14.6 billion in the first quarter of 2021, up from $10.1 billion in the same period of last year, the financial statement showed.

Revenue from vaccines came at $4.9 billion in the first quarter of this year.

Pfizer stock price was up 3% in pre-market trading around 8 a.m. EDT (1200GMT) on the New York Stock Exchange.

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