Pfizer Inc. raised the sales forecast for its vaccine products for Covid-19 pandemic. It is asymmetrical to analysts’ earnings expectations, the firm’s shares are now 2.8% higher. This leading U.S. drugmaker announced earnings adjustment for as much as $1.78 per share. The total represents Q3 FY 2022, it is above a year earlier which is $1.27 EPS. Plus, it is also ahead of market expectations for $1.39. Previously their year-over-year revenue plunged 6% to $22.6bn. In addition, they encountered unusually strong sales in the year-ago quarter. However, above all the company topped analysts’ estimates.
Pfizer increased its 2022 sales forecast from $32bn to $34bn. This is for the Comirnaty Covid-19 vaccine. Then, the company gained guidance for around $22bn for its annual revenue in the first nine months of FY 2022. Beforehand, the company increased its FY 2022 adjusted EPS forecast to approximately $6.40 to 6.50. This was to $6.45 from $6.30. Last year the Covid-19 vaccine sales in the U.S. reached 83%. The major cause is because of the deliveries of the Omicron-adapted bivalent booster shot. In addition, there was also an emergency use authorization last year from the Food and Drug Administration.
Pfizer’s best selling drug, Paxlovid, only could make the company gain quarterly revenue for as much as $7.5bn. Paxlovid is a highly effective Covid-19 retroviral treatment, this product received authorization for emergency use in the late 2021. The company plans to launch 19 products or indications in 18 months. It is part of the patent cliff effort. The firm also schedule the coming years marketing exclusivity for top drugs like the pneumonia vaccine Prevnar 13, anticoagulant Eliquis, and prostate cancer treatment Xtandi.
