Pfizer is working to file for FDA agreement of its COVID-19 vaccine with German Drugmaker company BioNTech at the end of this month. Pfizer will freely offer the vaccine directly to the consumers, after the approval of the FDA.
This company reported $3.5 billion of the first-quarter sale of the COVID vaccine. The company said the earnings and revenues would the Wall street’s expectations. An average estimate of the Wall street expectations are as follows:
In step EPS: 93 cents per share vs 77 cent coin projected
Revenue: $14.58 billion vs. $13.51 billion expected
But after the calculation, the company now expects the full-year sale of $26 billion from the COVID vaccine. The previous forecast of the revenue was about $15 billion. After the news, the shares of Pfizer rose 1.4%.
According to the earnings reported, not only the COVID vaccine. But the revenue of Pfizer’s internal medicine, oncology, hospital and rare disease units also rose by double digits.
The inflammation and immunology unit of the company produce $1 billion in sales. That are 9% more than the sale a year ago.
Pfizer also reported a double-digit increase in the sale of its cancer drugs, including Inlyta, Lorbrena and Bosulif.
In late December, the company received U.S. authorization of its COVID vaccine. Subsequently the approval of FDA, the company has distributed millions of doses in the U.S. As the company has a goal to allocate 300 million doses by the end of July.
In normal conditions, it takes nearly a year or longer time for Food. And Drug Administration to conclude whether a drug is safe and effective for the public. The FDA permitted the emergency use of this vaccine nonetheless in this emergency contagion, which killed 600,000 Americans,.
This approval was granted based on two months of data by the EUA. It is not similar to the standard biological license application, BLA, which need the data of six months for approval.
On 1st April, Pfizer and BioNTech announced the new data from their clinical trials. Which showed that their two-dose vaccine is safe, and it gives more than 91% of practical results in six months after the second dose of vaccine.
If the FDA fully support the vaccine, Pfizer and BioNTech will begin advertising the vaccine directly to the consumers. And its pricing will also be changed.