The Strategist

Pfizer forecasts annual sales of its COVID-19 vaccine at $15B

02/04/2021 - 03:08

US pharmaceutical company Pfizer has published its results for the fourth quarter and full year 2020.

Lisa Ferdinando
Lisa Ferdinando
Revenues in the fourth quarter were $11.7bn, up 12% year-on-year, and profits were $2.4bn, up 15%. 

For the full year 2020, the company's revenue was up just 2% to $41.9bn and net profit was up 16% to $12.5bn compared to 2019.

Pfizer has also given a forecast for the current year in which it expects its sales of the COVID-19 vaccine, developed with Germany's BioNTech, to be around $15bn and total revenues to be $59.4bn-61.4bn, up significantly from 2020. 

Despite this, Pfizer shares fell by 2% after the publication of the statements, as some key figures were below analysts' forecasts. 

Analysts surveyed by Refinitiv expected the company's fourth-quarter adjusted earnings per share of $0.48, but it was $0.42.