Pfizer posts strong first-quarter 2021 sales of its COVID-19 jabs
The United States pharmaceutical corporation, Pfizer has reported Ksh. 378 billion ($3.5 billion) in first-quarter sales of its COVID-19 jabs with German drugmaker, BioNTech.
The company also reported earnings and revenue that surpassed Wall Street’s expectations.
Here is how Pfizer performed visa-a-vis Wall Street projections, according to average estimates compiled by Refinitiv:
Adjusted EPS: 93 cents per share vs. 77 cents expected
Revenue: $14.58 billion vs. $13.51 billion expected
The company is projecting full-year sales of Ksh. 2.8 trillion ($26 billion) from the vaccine, up from its earlier forecast of about Ksh. 1.62 trillion ($15 billion).
“I am extremely proud of the way we have begun 2021, delivering strong financial results in the first quarter. Even excluding the growth provided from BNT162b2, our revenues grew 8% operationally, which aligns with our stated goal of delivering at least a 6% compound annual growth rate through 2025. In addition, we have achieved important clinical, regulatory and commercial milestones across our pipeline and portfolio while also continuing to increase our capacity to supply urgently-needed doses of BNT162b2 to the world.” Sais Pfizer Chairman and Chief Executive Officer Dr. Albert Bourla.
“Multiple innovative and biosimilar products across our portfolio delivered growth, demonstrating the strength of our business and the depth and breadth of our growth drivers. I am also pleased with our recent announcement that we will maintain our dividend for second-quarter 2021 at the current level, even after Viatris begins paying its dividend. This will make 2021 the 12th year in a row with a dividend increase. I remain confident in Pfizer’s ability to continue to deliver on our commitments to our patients and shareholders in 2021 and beyond.” Said Frank D’Amelio, Chief Financial Officer and Executive Vice President, Global Supply.
Pfizer vaccine is among the jabs approved by the World Health Organization, (WHO), against COVID-19. Other vaccines include Moderna, Johnson & Johnson, and AstraZeneca.