Pfizer reveals boost with €28.4bn in global vaccine sales likely this year

Vaccine on course to become one of the best-selling medicines of all time

A resurgence of virus infections thanks to the Delta variant is likely to mean sustained demand for vaccines globally. File picture

Pfizer now expects its Covid-19 vaccine to bring in $33.5bn (€28.4bn) in revenues this year, putting it on course to become one of the best-selling medicines of all time.

The drugmaker had previously projected vaccine sales for the year of $26bn and the upward revision is a sign demand for the shots, which Pfizer sells with German partner BioNTech, is surging as countries battle new outbreaks fuelled by the Delta virus variant.

In the second quarter, the vaccine booked $7.8bn in sales, Pfizer said. The two companies, which have delivered 1bn doses of the two-shot regimen, have contracts for 2.1bn doses through mid-July, and will produce 3bn shots by the end of the year.

If Pfizer’s sales projections are met, the vaccine would climb into the highest rank of blockbuster medicines, outpacing bellwethers such as AbbVie’s Humira immunosuppressive therapy and Merck's cancer-fighter Keytruda.

A resurgence of virus infections thanks to the Delta variant is likely to mean sustained demand for vaccines globally. The companies will begin a study of a new Delta-fighting vaccine formulation next month. 

Booster shots

They’re also discussing with regulators the potential need for third-dose booster shots of the existing formulation to bolster the immunity gained in the initial round of immunisations.

Pfizer said in a presentation accompanying its earnings release that emerging real-world data “suggests immunity against infection and symptomatic disease may wane”, underscoring the need for boosters.

The company said regulators will determine “whether, and which, populations to recommend booster”, and that they will likely first focus on those with compromised immune systems and older adults.

Shares of Pfizer rose in New York trade by 2.5% and they had gained 16% this year. Shares in BioNTech in Frankfurt climbed 3%. 

Earlier this month, Pfizer said it would approach US regulators for authorisation of a third booster dose of its vaccine, based on early data showing it can sharply increase immune protection against the coronavirus.

In the meantime, the companies this month launched a phase 3 study of the third booster dose, and will enrol 10,000 participants. Pfizer also aims to create a new formulation of the vaccine tailored to combat the Delta variant. 

• Bloomberg