Covid vaccine manufacturer Pfizer’s revenue and profits are rising sharply in the jab business

Pfizer has reported that its earnings and revenue have more than doubled in the last quarter, and it has raised its expectations for full-year results, largely thanks to its COVID-19 vaccine.

The company reported adjusted earnings of $ 7.7 billion ($ 10.3 billion), an increase of 133 percent from the previous year. Revenue rose to $ 24.1 billion ($ 32.3 billion), an increase of 134 percent. Both easily cleared results predicted by analysts.

The vaccine business alone was responsible for more than 60 percent of the company’s sales, as vaccine revenue rose to $ 14.6 billion ($ 19.6 billion) from just $ 1.7 billion ($ 2.3 billion) a year earlier.

A spokesman for NSW Health said an increased number of vaccinations "sometimes leads to minor delays in updating details on the Australian Immunization Journal".
Pfizer has sold hundreds of millions of doses. (Getty)

The company said its COVID-19 vaccine sales accounted for $ 13 billion ($ 17.4 billion) of this revenue. Revenue outside their COVID-19 vaccine business increased by a far more modest 7 percent.

The company said it expected full-year revenue of between $ 81 billion to $ 82 billion ($ 108.6-110 billion), an increase of $ 2 billion ($ 2.7 billion) over its previous guidance.

It also raised its expectations for earnings per share. share by about 3 percent to 5 percent above what it was expected to earn.

“While we are proud of our financial performance, we are even more proud of what these financial results represent in terms of the positive impact we have on human lives around the world,” CEO Albert Bourla said in his prepared remarks to investors.

The U.S. Food and Drug Administration released it Friday emergency use permit for the COFID-19 vaccine from Pfizer for children aged 5 to 11 years.
Pfizer revealed last week that the U.S. government had exercised its final purchase option to purchase 50 million extra doses of its COVID-19 vaccine. (Edwina Pickles)

The final approval of the vaccine for children is up to the director of the Centers for Disease Control, Dr. Rochelle Walensky.

Pfizer says a clinical trial found that its vaccine provides more than 90 percent protection against symptomatic disease in children, even at one-third of the dose that could be administered to children.

It said another lawsuit shows that booster doses of the vaccine for adults, 95.6 percent showed efficacy. Elderly and vulnerable adults have already received the booster doses in many countries since earlier this year.

Pfizer revealed last week that the U.S. government had exercised its final purchase option to purchase 50 million extra doses of its COVID-19 vaccine.

That brings the total number of pediatric doses of the vaccine to 115 million, which is enough to vaccinate every American child.

In total, the U.S. government has now purchased a total of 600 million doses across all age groups under its supply agreement.

Shares in Pfizer rose 3 percent in pre-market trading relative to earnings.

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