“Pfizer” raises its financial forecast … and 26 billion revenues from the Corona vaccine

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“Pfizer” company raised expectations about increasing its revenues for this year through a huge launch of the Covid-19 vaccine, in addition to the strong performance achieved by other sectors of the company, as it achieved an increase in sales of about 70 percent.

The company reported earnings in the first quarter of 2021 of $ 4.88 billion, or 86 cents a share.

The earnings per share was 93 cents if the one-off costs or gains were removed, far higher than Wall Street’s expectations of 79 cents, according to a survey by the Sachs Foundation for Investment Research.

Revenue amounted to $ 14.58 billion, easily beating industry analysts’ forecasts of $ 13.49 billion, according to the Associated Press.

Pfizer expects that its profits by the end of this year will range between $ 3.55 to $ 3.65 per share, with revenues ranging from $ 70.5 billion to $ 72.5 billion.

With regard to the revenues that it will achieve from the Corona vaccine, Pfizer expects to earn $ 26 billion this year, which represents a 70 percent increase over its recent forecast, due to the growing vaccination campaigns against the epidemic around the world.

The “Pfizer” vaccine in the first quarter of this year achieved revenues of $ 3.5 billion, exceeding expectations that were in the range of $ 3.28 billion, according to “Reuters”.

The New York-based company manufactures hundreds of millions of doses of the Covid-19 vaccine, and is pressing ahead with research measuring its effectiveness in different categories of patients, such as teenagers and people with weakened immune systems.

“Pfizer” stated that this year it may produce two billion doses of the vaccine, which it developed in partnership with the German company “Biontech”, including the 200 million doses promised by the United States by the end of May.

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