Pfizer Forecasts $33.5 Billion in Covid-19 Vaccine Sales

Company raises full-year outlook as it prepares to ask U.S. regulators to authorize booster shots

6 min video:

https://www.wsj.com/e996861f-1eb2-4217-a10a-8421a72e8c1d

Companies are working on coronavirus booster shots, as some early studies suggest antibody levels against Covid-19 wane with time, making boosters more necessary. We explore what that means for individual consumers. Illustration: Laura Kammermann/The Wall Street Journal

By Jared S. Hopkins and Matt Grossman July 28, 2021

Listen to article Length2 minutes

Pfizer Inc. expects sales for its Covid-19 vaccine this year to reach about $33.5 billion, up nearly 30% from its forecast three months ago, as the shot plays a growing role in global efforts to curb the spread of the coronavirus.

With concerns rising over the highly infectious Delta variant, Pfizer also said that booster shots would likely be needed to ensure protection against the virus.

U.S. officials haven’t authorized the use of booster shots, although they are studying the issue. Pfizer and partner BioNTech SE plan to seek regulatory approval in the U.S. for a booster shot in August. A clinical trial testing an updated version of its vaccine targeting the Delta variant is also set to start next month, the company said Wednesday when announcing second-quarter earnings.

Pfizer Chief Executive Albert Bourla said in an interview that the potential need for annual booster shots could make the company’s vaccine sales durable, particularly with shots in demand as the virus evolves and herd immunity remains elusive.

“We know this virus is very aggressive and is constantly creating new variants,” Mr. Bourla said.

TO READ THE FULL STORY

https://www.wsj.com/articles/pfizer-raises-full-year-outlook-on-vaccine-sales-11627472453

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