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Pfizer raises COVID vaccine sales forecast to $36B for 2021

Pfizer raised its revenue forecast from coronavirus vaccine sales to $36 billion for 2021, according to a financial statement released Tuesday.

The US pharmaceutical’s previous 2021 estimates were $33.5 billion in July; and $26 billion and $15 billion, made in May and February, respectively.

The company said the upward revision in the sales forecast reflects higher vaccine doses to be delivered in 2021, which amounts to an estimated 2.3 billion worldwide.

The US Food and Drug Administration paved the way Friday for Pfizer-BioNTech's COVID-19 vaccine to be approved for children aged 5 to 11, opening the door to getting millions of more shots in arms.

Pfizer saw its revenue increase 134% to $24.1 billion in the third quarter from $10.27 billion in the same period last year.

Its stock price was up 3.3% to $45.09 on the New York Stock Exchange.

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