Shares of Pfizer Fell 2.6% in Early Trading

Pfizer was a famous company even before the coronavirus. However, the coronavirus pandemic made this company even more popular around the world. Based on the information provided by the company, it expects to sell about $15 billion in coronavirus vaccine doses in 2021. Pfizer announced in releasing its fourth-quarter earnings on February 2. It worth mentioning that, the shares of the company dropped 2.6% in early trading.

Importantly, the company forecasts revenue in 2021 will be between $59.4 billion and $61.4 billion. People should keep in mind that, the company also raised its full-year earnings guidance to between $3.10 to $3.20 from $3 to $3.10, citing“additional refinements” of its vaccine revenue forecast.

Interestingly, revenue rose 12% to $11.68 billion from $10.44 billion during the same quarter last year. Importantly, this result surpassed expectations. 

As a reminder, Pfizer is producing the Covid-19 vaccine with German partner BioNTech. It was the first vaccine approved for emergency use in the U.S. 

Pfizer and its coronavirus vaccine

The coronavirus pandemic remains one of the most discussed issues in different parts of the globe for almost a year. It is worth noting that, Pfizer like other Covid vaccine makers is struggling to keep up with the demand for shots that hopefully will help bring an end to the pandemic. 

Based on the information provided by the company, it expects to deliver 200 million doses of its two-shot vaccine to the U.S. by July 31. As can be seen from the information stated above, it nos not an easy task to meet the demand. The company recently enlisted the help of French drugmaker Sanofi to help produce doses. 

Hopefully, the company is ready to respond if a Covid variant demonstrates evidence of evading its vaccine. This fact once more underlines the strength of the New York-based company. As a reminder,  in recent weeks U.S. health officials including Dr. Anthony Fauci commented on this issue. They are concerned that vaccines currently on the market may not be as effective in protecting against new, more contagious strains of the virus. 

Based on the information provided by Novavax, its vaccine was only 49% effective against B.1.351 the highly contagious strain found in South Africa. According to Johnson & Johnson, its vaccine was less potent against the strain. Its one-shot vaccine was 66% effective overall but just 57% effective against the strain in South Africa. 

Pfizer as well as other companies are working hard to produce as many doses as possible to meet the demand.