Pfizer vaccine, pill forecasts miss estimates

[NEW YORK] Pfizer's forecast for full-year sales of its Covid-19 vaccine and antiviral pill fell short of lofty Wall Street estimates on Tuesday, sending the drugmaker's shares down 4 per cent before the bell.

Pfizer said it expects to post US$54 billion in combined sales of both the products this year, with Covid-19 vaccine sales coming in at US$32 billion and sales from Paxlovid, its oral antiviral to treat the disease, at US$22 billion.

Analysts had forecast sales of US$33.79 billion for the Covid-19 vaccine and US$22.88 billion for Paxlovid, according to Refinitiv data.

The vaccine, developed with Germany's BioNTech and based on the mRNA technology that is also behind rival Moderna's shots, is used in more than 160 countries including the United States.

Pfizer aims to make more than 4 billion doses of the shot in 2022. That compares with last year's 3 billion doses.

Paxlovid has shown promise in cutting hospitalisation and deaths in high-risk patients, and the company expects to produce at least 120 million courses of the pill this year.

Overall, Pfizer forecast 2022 sales of US$98 billion to US$102 billion, also below estimates of US$105.48 billion.REUTERS