An American multinational pharmaceutical corporation, Pfizer, has disclosed that atleast $15 billion would be realised in 2021 from sales of its COVID-19 vaccine, Comirnaty, to Nigeria, the United States (US), and other countries that have requested for their invention globally.
Pfizer said that the vaccine developed with a German partner, BioNTech, was on track to be its top product this year and could earn both firms more profit than the estimated gains considering the high demands across the world.
To boost chances of realising the profit, the firms further said that plans have been concluded to produce atleast two billion doses of the COVID-19 vaccine in 2021, in order to meet the demands for the product.
Pfizer was expected to supply 200 million doses to the U.S. government by the end of May while Nigeria was expected to have received its acquired doses before the end of this month.
Announcing the company’s target for the year, Pfizer Chief Executive, Albert Bourla, in an interview with newsmen on Tuesday, said that the company would have quoted more but intended to be conservative in its target and is working on numerous initiatives to exceed that output.
Bourla stated that the company expected that there could be a long-lasting need for COVID-19 vaccines, to combat new virus variants that have started emerging and to boost peoples’ waning immune responses to the pandemic.
As gathered, the company is launching a study to determine whether a third dose of the COVID-19 vaccine, administered 6-to-12 months after the initial shots, can extend and improve efficacy with more contagious variants circulating in communities around the world.
The Guild gathered that the Pfizer/BioNTech COVID-19 vaccine was currently administered globally on patients and non-patients as two doses within three weeks apart.
Also, Chief Financial Officer, Frank D’Amelio, further added: “We’ve increased the batches we run per week, we’ve doubled the output – the yield per batch – we’ve dramatically improved our success rates, we’ve made process improvements to the assembly lines”.
In the interview granted to newsmen, D’Amelio, said: “All these things are things we’re continuing to examine to see what else we can do to try to produce more doses faster”.
The company’s Chief Scientific Officer, Mikael Dolsten, said he believes mRNA vaccines like Pfizer’s generate a strong enough immune response to repel the currently circulating variants, and that a booster, rather than a redesigned vaccine, is the right approach for now.
It would be recalled that the vaccine, which uses synthetic messenger RNA (mRNA) to prompt an immune response against the virus, was the first shot to be authorized for emergency use in the United States, marking the first regulatory nod for the new technology.
mRNA vaccines and COVID-19 could prove transformative for Pfizer, which is already one of the world’s largest drugmakers, CEO Bourla said. A potential flu vaccine based on the technology could hit the market by 2025, executives said on a conference call.
Pfizer forecast 2021 sales between $59.4 billion and $61.4 billion. The company raised both ends of its full-year adjusted profit forecast by 10 cents and now expects to earn $3.10 to $3.20 per share.