Pfizer To Request Full FDA Approval Of Covid Vaccine At The End Of May

Pfizer said Tuesday it plans to file for full U.S. approval of its Covid-19 vaccine with German drugmaker BioNTech at the end of this month. If the FDA signs off, the company will be able to market the shot directly to consumers.

In its earnings report, Pfizer said first-quarter sales of its Covid-19 vaccine was $3.5 billion, roughly 24% of its revenue for the quarter. Its profit and revenue beat Wall Street’s expectations.

Here’s how Pfizer did compared with what Wall Street expected, according to average estimates compiled by Refinitiv:

• Adjusted EPS: 93 cents per share vs. 77 cents expected
• Revenue: $14.58 billion vs. $13.51 billion expected

The company now expects full-year sales of $26 billion from the vaccine, up from its previous forecast of about $15 billion. It expects an adjusted pretax profit in the high 20% range of revenue for the vaccine.

Read more at CNBC.

{Matzav.com}