The global leader in vaccine manufacturing, Pfizer is expecting to earn $15 billion from the sale of their COVID-19 vaccine. It is a quarter of this year’s total revenue. The company has co-developed the vaccine with German drugmakerBioNTech.
The company hopes to deliver around 2 million doses of the vaccine to people in 2021. As all the countries are hoping to get the vaccine as soon as possible, the drugmaker giant is determined to deliver the vaccine at a lightning pace.
Coronavirus has already killed more than 2 million people worldwide. Pfizer announced that their assumption of the sale could rise if they are able to get more buyers.
Edward Jones analyst Ashtyn Evans said that the company’s 2021 earnings and sales will increase because of the vaccine. And it will increase more in this year.
There were delays in the vaccine supply in different places in Europe as there have been alterations in the manufacturing process. BioNTech announced on Monday that their work has been going smoothly and will be able to deliver in Europe before the deadline.
As per Pfizer, the company has sold 29 million doses in the US and 65 million doses all over the globe till January 31st. they hope to sell 200 million doses to the US government before May ends.
As per the reports of Reuters, If the company wishes to fulfill the target, it will have to deliver almost 10 million doses of the vaccine each week. It is more than double of what Pfizer and BioNTech have been delivering till the end of January in the United States.
They are charging around $19 per dose from the countries with the largest orders. Pfizer and BioNTech have decided to split the profit from the vaccine sale in half as per their partnership agreement.
The drugmakers are using a brand new technology for the making of the vaccine. The technology is called messenger RNA (mRNA). It was one of the firsts to be permitted to use in emergency times in the USA. It is also the first authorized use of mRNA technology.
Pfizer has predicted that their entire sale would be between $59.4 billion and $61.4 billion. The sale of the vaccine is going to contribute almost 25% of their entire sales.
The maker of the first Coronavirus vaccine said that the adjusted income of the company without the tax margin will seemingly be in the high-20s as a percentage of revenue.
The company hopes to earn $3.10 to $3.20 per share in the entire year. It is a rise from their previous prediction of $3 to $3.10 per share.
While AstraZeneca and Johnson & Johnson are ready to sell their vaccine at lower costs, Pfizer and Moderna are accused of seeking only profit from their vaccines. Pfizer said they are seeing to make profits from their high reputation that they have gained by making the vaccine.