Pfizer enjoys 130 per cent revenue boost as Covid-19 vaccine roll out continues
Pharmaceutical giant and vaccine maker Pfizer has enjoyed a more than 130 per cent revenue boost in its third quarter, as the global vaccine drive continues.
Pfizer pulled in a revenue of $24.1bn in its third quarter, up from $10.27bn in the same period last year.
While revenue for its vaccine branch Comirnaty came in at $36bn, up from $33.5bn, as the firm reaps the rewards of being one of the first firms to crack to Covid-19 jab formula.
The upbeat trading update has pushed the pharmaceutical heavyweight to lift its full year revenue guidance into the range of $81bn and $82bn.
The firm also earnt some $1.34 per share in the period, according to the firm’s adjusted figures, which Pfizer said will be in the range of $4.13 and $4.18 for the year as a whole.
“More than 75 per cent of the revenues we have recorded up through third-quarter 2021 for Comirnaty have come from supplying countries outside the US, and we remain on track to achieve our goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022,” CEO and chairman Albert Bourla said.
The vaccine pledge will see at least one billion jabs be delivered this year and one billion next year, Bourla added, which could increase if more orders are placed for 2022.