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Pfizer’s COVID-19 vaccine yields $3.5bn in first quarter sales

Full-year guidance for BioNTech-partnered vaccine increased to $26bn

Pfizer has increased the full-year guidance for its BioNTech-partnered vaccine – BNT162b2 – after reporting that the jab generated $3.5bn in global revenues during the first quarter (Q1) of 2021.

Overall, Pfizer’s Q1 revenues totalled $14.6bn, a 45% increase on the same period last year, reflecting an operational growth of $2.2bn or 42%.

Although most of this growth was driven by BNT162b2, Pfizer also reported an increase in Q1 2021 sales for its oncology division, which increased by 18% to $2.8bn in this period, compared to $2.4bn last year.

This includes a 28% increase for Xtandi, Pfizer prostate cancer therapy, with its growth primarily driven by continued demand in the metastatic and non-metastatic castration-resistant and metastatic castration-sensitive indications.

Sales for Pfizer tyrosine kinase inhibitor (TKI) Inlyta were also up by 34% operationally, following increased demand in the US and approvals in 2019 for a combination of the drug plus Merck & Co’s checkpoint inhibitor Keytruda for the first-line treatment of advanced renal cell carcinoma (RCC).

Elsewhere, Pfizer reported a 25% increase in sales for anticoagulant med Eliquis, led by growth in the US, emerging markets and developed Europe, as well as an 88% operational growth for the rare heart disease treatment Vyndaqel.

Pfizer’s Janus kinase (JAK) inhibitor Xeljanz also grew by 18% operationally, with a 16% growth in the US and a 21% increase in international markets, thanks to uptake in the rheumatoid arthritis indication.

Looking ahead, Pfizer has said that it will raise its guidance range for its full-year revenue, increasing its forecast to between $70.5bn to $72.5bn, from the previous guidance of $59.4bn to $61.4bn.

The pharma giant also adjusted the expected revenues for BNT162b2, following additional supply agreements that took place after Pfizer’s previous guidance release.

Following these adjustments, Pfizer expects revenue from its COVID-19 vaccine to reach approximately $26bn, significantly more than the previous forecast of around $15bn.

Pfizer's chief executive officer Albert Bourla

“I am extremely proud of the way we have begun 2021, delivering strong financial results in the first quarter. Even excluding the growth provided from BNT162b2, our revenues grew by 8% operationally, which aligns with our stated goal of delivering at least a 6% compound annual growth rate through 2025,” said Albert Bourla (pictured above), chairman and chief executive officer of Pfizer.

“In addition, we have achieved important clinical, regulatory and commercial milestones across our pipeline and portfolio while also continuing to increase our capacity to supply urgently-needed doses of BNT162b2 to the world,” he added.

Article by
Lucy Parsons

4th May 2021

From: Sales

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