Prognosis
Pfizer Projects $15 Billion in 2021 Sales of Covid Vaccine
- Shares fall as questions arise about market sustainability
- Drug giant raises full-year forecast in light of vaccine sales
Pfizer’s newly-authorized Covid-19 vaccine brought in $154 million in sales in the fourth quarter.
Photographer: Kobi Wolf/BloombergThis article is for subscribers only.
Pfizer Inc. projected about $15 billion in revenue this year from the Covid-19 vaccine it developed with BioNTech SE, but the shares fell amid questions about the durability of the market for the shot.
Company officials led by Chief Executive Albert Bourla said on a conference call that the vaccine looks capable of taking on new variants, its price may increase and new products using its messenger RNA technology are on the way. Still, the shares fell as much as 4.3% and were down 2.2% at 2:10 p.m Tuesday in New York.