NEW YORK: Sales of the Covid-19 vaccine developed by Pfizer and BioNTech could reach up to $15 billion in 2021 and go higher if Pfizer signs additional supply contracts, Pfizer said Tuesday.
The projections came as Pfizer projected full-year 2021 sales of between $59.4 billion and $61.4 billion, meaning that about one-fourth of estimated total sales will come from the Covid-19 vaccine.
The forecast reflects "a continued recovery in macroeconomic and healthcare activity throughout 2021 as more of the population becomes vaccinated against Covid-19," Pfizer said.
"These assumptions are guided by the trajectory of current infection rates in many parts of the world and the expected timeline for broad access to effective vaccines."
Pfizer reported fourth-quarter net income of $594 million, compared with a loss of $337 million in the year-ago period.
For all of 2020, Pfizer reported profits of $9.6 billion, down 41.4 per cent from 2019, with revenues up two per cent to $41.9 billion.
Pfizer's fourth-quarter revenues included $154 million in sales of the Covid-19 vaccine.
The vaccine began winning approval from authorities late last year. Pfizer said it expects it could potentially deliver up to 2 billion doses in 2021 based on several factors, including adding more suppliers and contract manufacturers.
Shares of Pfizer rose 0.5 per cent to $35.94 in pre-market trading.