Pfizer received $33.5 billion in revenue from the new coronavirus vaccine, a low point provider Investing.com

Author: Dyrendra Tripatti

Investing.com- Pfizer (NYSE:) The stock broke from an earlier low in pre-market trading on Wednesday and fell 0.4% as the company raised its annual guidance and increased its COVID-19 vaccine sales revenue Fixed at approximately 33.5 billion U.S. dollars.

As of the middle of this month, according to the signed contract, revenue from the COVID-19 vaccine is expected to deliver 2.1 billion doses in 2021. Pfizer said that if it expands at its existing base and adds new suppliers, it can supply up to 3 billion doses.

The vaccine contributed $7.83 billion in revenue in the second quarter.

The cost and profit of the vaccine are divided equally between Pfizer and BioNTech (NASDAQ:).

Pfizer raised its 2021 revenue guidance to 78 to 80 billion U.S. dollars, and adjusted diluted earnings per share to 3.95 to 4.05 U.S. dollars. This only takes into account the income of COVID vaccines that have already been contracted.

It had earlier guided revenue between 78 billion and 80 billion U.S. dollars.

The pharmaceutical giant’s revenue in the second quarter increased by 92% year-on-year to US$18.97 billion.

In addition to the COVID vaccine, Pfizer’s revenue is also driven by the growth of the pneumococcal vaccine Prevnar and oncology business, as people are concerned about their health issues postponed in the pandemic.

Excluding revenue from the COVID vaccine BNT162b2, operating revenue increased by 10% to 11.1 billion U.S. dollars.

The adjusted diluted earnings per share was US$1.07, exceeding expectations of 96 cents.