
Pfizer Records Largest Quarterly Sales in Q2 2022 Fueled by COVID-19 Vaccine and Paxlovid Sales
Both COVID-19 sales and Paxlovid contributed immensely to the impressive financial report Pfizer announced for Q2 2022.
Both COVID-19 sales and Paxlovid contributed immensely to the impressive financial report Pfizer announced for Q2 2022.
PFE stock has had mixed volatility in the past year, up approximately 47.84% in the past year but down approximately 12.45% YTD.
Pfizer CEO said that it is not clear if a fourth dose is required. He explained that Pfizer would conduct experiments to reach a conclusion.
The PF-07321332 drug will be administered alongside a low dose of Ritonavir, a widely used drug in HIV treatment.
Pfizer stock has gained approximately 28%, 19%, and 12% in the past year, YTD, and three months respectively through last Friday.
Pfizer will submit the data received to the Food and Drug Administration (FDA) and other health regulators “as soon as possible.” However, it is unclear how much time the authorities will need to review the data and approve the vaccine.
The potential efficacy in the approved Pfizer-BioNTech and Moderna vaccines is spurring a delay in second dose administration by some nations, especially those with limited supplies of the jabs.
Pfizer raised its earnings guidance for the 2021 fiscal year noting that its revenues will range between $59.4 billion and $61.4 billion, with vaccine sales taking a prominent role in the achievement.
The vaccine from the duo of Pfizer-BioNTech as well as Moderna is expected to fetch the firms as much as $15 billion in sales by the year 2023.
Pfizer requires the government to give them access to about nine specialized products which is said to include Lipids, and this can be done by invoking the defense production act.
According to the FDA, Pfizer’s COVID-19 vaccine is given as two shots administered 21 days apart. One dose is to prime the body, and then a few weeks later, the second dose is to boost the response.
While the Pfizer (PFE) vaccine is the first of the vaccines expected to get regulatory approval this year, its distribution may be limited considering its extremely low storage and distribution temperature of minus 70 degrees Celsius and below.
Pfizer noted that the decision to conduct the vaccine delivery trial was based on the uniqueness of each state because of their size, existing immunization infrastructure, diversity in the population and other factors.
On the same day when Pfizer announced the results of the vaccine trial, the company’s CEO Albert Bourla sold 132,508 shares (or 62% of his stock) at the price of $41.99.
Following the positive news about the Pfizer COVID-19 vaccine efficacy, the stock market has responded with big jumps.