What a last few weeks it has been for drug giant Pfizer (NYSE:PFE)!
The company, out with its fourth-quarter earnings, says it expects to sell about $15 billion in coronavirus vaccine doses this year.
The company’s COVID-19 vaccine, which it’s making with German partner BioNTech (NASDAQ:BNTX), was the first approved for emergency use in the U.S. It forecasts between $59.4 and $61.4 billion in revenue this year.
The company also raised its full-year earnings guidance to between $3.10 to $3.20 from $3.00 to $ 3.10, citing "additional refinements" of its vaccine revenue forecast.
In the fourth quarter, Pfizer reported adjusted Earnings per Share of 42 cents versus the expected 48 cents. Revenue came in at $11.68 billion versus the expected $11.43 billion.
According to CEO Albert Bourla, "As a company, we saw the culmination of Pfizer’s decade-long conversion into a pure-play, science and innovation-focused company.
"Right away, our ability to move quickly and utilize cutting-edge science to help address the world’s most important medical challenges was put to the test by the COVID-19 pandemic."
Pfizer, like other COVID-19 vaccine makers, has been struggling to meet the demand for shots that will help bring an end to the pandemic. Pfizer has said it expects to deliver 200 million doses of its two-shot vaccine to the U.S. by July 31. It recently enlisted the help of French drugmaker Sanofi to help produce doses.
The company also said Tuesday it is “prepared to respond” if a Covid variant demonstrates evidence of evading its vaccine.
PFE shares dived $1.06, or 3%, soon after Tuesday’s opening bell to $34.74.
