Pfizer predicts nearly £ 19 billion sales of the Covid vaccine in 2021 as the world recovers from the pandemic.
The US pharmaceutical giant Pfizer expects sales of nearly £ 19 billion of a coronavirus vaccine this year as the world recovers from the pandemic.
The company’s latest forecast is higher than the previous estimate of £ 11 billion.
Pfizer is set to deliver 1.6 billion doses of life-saving Covid jab in 2021 as countries work to reduce deaths and return to normalcy.
Its two-vaccine vaccine BNT162b2 was the first vaccine approved in the United Kingdom and the United States last year. Developed in partnership with Biontech, founded by husband and wife team Ugur Sahin and Ozlem Tureci.
LIFE SAVER: Pfizer is set to deliver 1.6 billion doses of the life-saving Covid-Gap drug in 2021, as countries work to reduce deaths and return to normalcy.
The first patients received an injection of the NHS in early December. Since then it has become a major component of vaccine launches in most Western countries.
But unlike its British rival Astrazeneca, which sells its products globally without profit, Pfizer’s additional sales from the pandemic have proven extremely lucrative.
The company reported revenue of 10.5 billion pounds for the first three months of this year, up from 7.3 billion pounds in 2020.
Of that number, 2.5 billion pounds came from vaccine sales. This helped lift Pfizer’s profit for the quarter from 2.4 billion pounds to 3.5 billion pounds.
Dr Albert Burla, president of the company, said: “ I am extremely proud of the way we started in 2021.
We have achieved significant clinical, regulatory and business milestones across our pipelines and business portfolio while continuing to increase our ability to dosed BNT162b2.
Each of these accomplishments demonstrates our commitment to Pfizer’s goal: breakthroughs that change patients’ lives.
To date, about 430 million Pfizer doses have been shipped to 91 countries. It received an emergency clearance last winter and plans to get full approval from US regulators later this year.
The Covid shot vaccine was developed by Pfizer in partnership with Biontech, founded by husband-and-wife team Ugur Sahin (left) and Ozlem Tureci (right)
Clinical trials have proven the vaccine to be safe and 91% effective in preventing Covid-19, and 100% effective in preventing serious disease or death.
The vaccine has not been approved for use in children under the age of 16, but Pfizer is expected to seek the vaccine for those between the ages of 12 and 15 in the coming days.
The company expects its demand to continue even after the worst of the epidemic has passed.
“Based on what we’ve seen, we believe a constant demand for our Covid-19 vaccine – similar to influenza vaccines – is a potential outcome,” Burla said. By next year, Pfizer expects it to have the capacity to produce another 3 billion doses per year.
The vaccine is among the new strain of mRNA vaccines developed in record time during the pandemic.
Conventional vaccines use a weakened form of the virus, which is inserted into the body to train the immune system to fight it.
However, mRNA vaccines are manufactured using the genetic code of the virus.
Once injected, it works by giving the body the genetic instructions to produce the antibodies needed for the immune response.
While conventional vaccines can take up to a decade to produce, Pfizer says potential new mRNA vaccines can be produced in less than a week – once the virus’s genetic code is sequenced.