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Pfizer’s sales of COVID-19 shots hit $7.8bn in Q2-21

Pfizer’s sales of COVID-19 shots hit $7.8bn in Q2-21

Mubasher: Pfizer has sold $7.8 billion in COVID-19 shots during the second quarter (Q2) of 2021, with financial results beating Wall Street expectations on earnings and revenue, CNBC reported.

The company, meanwhile, raised its 2021 sales forecast for the vaccine to $33.5 billion, instead of $26 billion, as the Delta variant spreads and scientists debate whether people will need booster shots.

Revenues stood at $18.97 billion in Q2-21, higher than the $18.74 billion forecast. As for the six-month period until June, the overall revenues soared by 68% annually to $33.55 billion.

Pfizer expected revenues in full-year financials to range from $78 billion to $80 billion, up from its previous estimate of $70.5 billion to $72.5 billion.

Company CEO, Albert Bourla, said: “The speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19 have been unprecedented, with now more than a billion doses of BNT162b2 having been delivered globally.”

Pfizer could potentially file for an emergency use authorisation for a booster dose with the Food and Drug Administration (FDA) next month.

The company expected clinical studies testing its delta variant vaccine to commence in August. It forecasts full approval for its two-dose vaccine by January 2022.

According to the latest studies by UC Davis on the new strain, the Delta variant is believed to be highly contagious, as approximately 80% of UC Davis Health patients who tested positive for COVID-19 had the Delta variant as of 22 July. The symptoms of the mutated virus are similar to COVID-19 yet people get sicker quicker, especially for younger individuals.

There were 65,000 breakthrough cases, people who are vaccinated but got COVID-19, among the 160 million people who are fully vaccinated as of 22 July. This marked 0.04% of vaccinated people reporting breakthrough cases.

Health experts predicted that in communities with lower vaccination rates, particularly rural areas with limited access to care, the Delta variant would be more damaging, expecting its impact to be felt for decades to come.

More COVID-19 variants are also expected to emerge, like the Lambda variant out of South America.