Pfizer boosts financial forecasts, looks to expand dominance of COVID-19 vax market

Sales of Pfizer’s COVID-19 vaccine, the most widely distributed in the U.S., have lifted the company’s sales projections for this year.

All told, the company said that its vaccine, developed with Germany-based BioNTech, accounted for about $3.5 billion in sales during the first three months of 2021. By the time the year is done, Pfizer believes its vax will rake in up to $26 billion in sales. 

Meanwhile, Pfizer and BioNTech are looking to expand the global reach of their vaccine.

This week, BioNTech’s CEO told the Financial Times that the company is working on a new formulation for the vaccine that would allow it to be stored for longer periods of time. Right now, the companies’  vaccine can be stored at 2-8 degrees Celsius for up to five days before mixing. With the new formulation under development — which has yet to be approved — the company is hoping create a new version of the vaccine that will remain stable at that temperature for up to six months.

Pfizer/BioNTech are also now nearing approval for their vaccine in children ages 12-15. The companies say its shot was 100% effective in children as young as 12. According to a federal official, an expanded approval to the adolescent population in the U.S. could come as early as next week.