Pfizer has reported this Tuesday that it plans to present at the end of May the application for full approval in the US of its Covid-19 vaccine together with the German drug manufacturer BioNTech. If approved by the FDA, the company may commercialize the vaccine directly to consumers. This new news is wrapped within the quarterly presentation of results, where the pharmaceutical giant has shot up its expectations of income from its preparation against Covid-19 by 73%.
In the publication of its financial results for the first quarter, the company also reported that sales of its vaccine amounted to $ 3.5 billion and that profits and revenues exceeded analysts' expectations.
According to estimates from the Refinitiv report, compiled by CNBC on comparing Pfizer's results with what the market consensus expected, while analysts expected a Earnings per Share (EPS) of 77 cents, the company finally obtained 93 cents.
Regarding the income, they increased by 45%, obtaining 14,580 million dollars compared to the 13,510 million expected. Finally, the company now expects sales for the full year of $ 26 billion with the vaccine, up from his previous forecast of about $ 15 billion.
FORECASTS FOR 2021
In this way, Pfizer relies on billing in 2021 between 70,500 and 72,500 million dollars (58,519 and 60,179 million euros), when previously it had planned to enter between 59,400 and 61,400 million dollars (49,305 and 50,965 million euros).
Likewise, the multinational has revised up its expectations of earnings per share to a range of $ 3.55 to $ 3.65 from the previous range of $ 3.10 to $ 3.20.
The revenue projection for BioNTech includes guidance from 1.6 billion doses expected to be delivered this year. The stock, which is on track to open at the highest prices seen since mid-December, has gained 8.2% year-to-date through Monday, while the S&P 500 SPX, + 0.27%, has advanced 11.6%.
In the first three months of 2021, Pfizer recorded a turnover that amounted to 14,582 million dollars, 44.6% more than a year earlier.
Specifically, Pfizer's vaccine business between January and March generated 4,894 million dollars (4,062 million euros), a 204% more than a year before, including 3,462 million dollars (2,873 million euros) from the sale of the vaccine against Covid-19.
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