Pfizer Raises Covid-19 Vaccine Forecast as Sales More Than Double

Pfizer Inc.increased its forecast for sales of its Covid-19 vaccine this year to about $36 billion, a roughly 7% boost that comes as the U.S. prepares to distribute the shot to 28 million children aged 5-to-11-years old. The New York-based drugmaker said its sales projection for the vaccine it developed with partner BioNTech SE takes into account expected deliveries of about 2.3 billion vaccine doses this year. The companies have grown their capabilities for manufacturing doses, and are working with other firms overseas to produce doses. The vaccine’s revenue of $13 billion was the biggest contributor to Pfizer’s third-quarter sales of about $24 billion, which more than doubled year over year. More than 75% of vaccine sales this year are from international sales, as the vaccine has reached 152 countries, Pfizer Chief Executive Albert Bourla said on an earnings call.