Business

Pfizer PFE Q4 2020 earnings

pfizer-pfe-q4-2020-earnings

Empty vials containing the Pfizer COVID-19 vaccine are seen at a drive-through vaccination facility operated by the Lake County Health Department in Groveland, Florida on January 28, 2021.

Paul Hennessy | NurPhoto | Getty Images

Pfizer expects to sell around $ 15 billion worth of coronavirus vaccine doses this year, the company said when it released its fourth quarter earnings on Tuesday.

The company’s Covid-19 vaccine, which it produces together with German partner BioNTech, was the first to be approved for use in the United States. For this year, sales were forecast to be between $ 59.4 billion and $ 61.4 billion.

According to Refinitiv’s average estimates, Pfizer performed in the fourth quarter compared to Wall Street expectations.

  • Adjusted EPS: 42 cents versus 48 cents, expected.
  • Revenue: $ 11.68 billion versus $ 11.43 billion expected.

Revenue rose 12% from $ 10.44 billion in the same quarter last year to $ 11.68 billion – better than analysts expected.

Pfizer’s shares were largely unchanged in premarket trading.

“As a company, we have seen the culmination of decades in Pfizer’s transformation into a pure, science and innovation-driven company,” said Albert Bourla, Pfizer CEO, in a press release. “Our ability to move forward quickly and use the latest scientific knowledge to address the world’s major medical challenges has been tested by the COVID-19 pandemic.”

Pfizer, like other Covid-19 vaccine manufacturers, is struggling to meet demand for shots that will help end the pandemic. Pfizer expects to ship 200 million doses of its two-shot vaccine to the US by July 31. The company recently turned to French drug maker Sanofi for help making cans.

This is a developing story. Please try again.

source

0 Comments
Tags: , ,

Robert Dunfee