Pfizer Inc on Tuesday raised its full-year estimates for sales of its COVID-19 vaccine by $2 billion to $34 billion, encouraged by demand for its new bivalent booster shots.
The company maintained its full-year sales forecast for COVID-19 pill Paxlovid at $22 billion.
Even as demand for original coronavirus vaccines falls in parts of the world, the rollout of Pfizer’s Omicron-tailored boosters is underway in the United States and Europe.
“Our COVID-19 franchises will remain multi-billion-dollar revenue generators for the foreseeable future,” Chief Executive Officer Albert Bourla said as part of prepared remarks ahead of a conference call.
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The company reported third-quarter sales of $22.60 billion, beating the analysts’ estimate of $21.04 billion, according to IBES data from Refinitiv.
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