Pfizer sharply lifted sales forecasts for its Covid-19 vaccine, raising full-year revenue projections for the jab from $15bn to $26bn after reporting a $3.5bn contribution in the first quarter.
The US pharmaceutical group, which splits profits from the vaccine with its German development partner BioNTech, lifted its overall 2021 revenue guidance on Tuesday from $61.4bn to up to $72.5bn, mainly because of contracts signed for the delivery of 1.6bn doses in 2021.
First-quarter revenues of $14.6bn were up 45 per cent on the same period last year and ahead of analysts’ forecasts of $13.7bn. Diluted earnings per share hit 86 cents.
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