COVID vaccines pushes Pfizer beyond expectations in final quarter
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Washington: COVID-19 vaccine sales boosted Pfizer earnings well past analyst expectations in the final quarter of 2021, but the drugmaker is setting a lower-than-expected bar for 2022. Pfizer said Tuesday that it expects adjusted earnings in the new year to range from USD 6.35 to USD 6.55 per share on USD 98 billion to USD 102 billion in revenue.
Industry analysts were expecting earnings of USD 6.71 per share on USD 103.18 billion in revenue, according to FactSet.
Pfizer shares started sliding in early trading.
In the fourth quarter, Pfizer said its two-shot coronavirus vaccine, Comirnaty, brought in more than USD 12.5 billion in revenue, which helped the company's total top line double compared to the last quarter of 2020.
Pfizer books the vast majority of revenue from Comirnaty and splits profit, as well as the cost to make and distribute the vaccine, with development partner BioNTech.
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