The vaccine business alone was responsible for more than 60% of the company’s sales, as vaccine revenue rose to $14.6 billion from only $1.7 billion a year earlier. The company said its Covid vaccine sales accounted for $13 billion of that revenue. Revenue outside of its Covid vaccine business was up a far more modest 7%.
The company said it now expects full-year revenue of between $81 billion to $82 billion, up $2 billion from its earlier guidance. It also raised its earnings per share outlook by about 3% to 5% above what it had been expected to earn.
“While we are proud of our financial performance, we are even more proud of what these financial results represent in terms of the positive impact we are having on human lives around the world,” said CEO Albert Bourla in his prepared remarks for investors.
About 67% of the total US population has had a least one dose of a Covid vaccine, and 58% are fully vaccinated, according to data tracked by the Mayo Clinic. So there are still significant vaccination doses that can be administered, especially to children, many of whom are still not approved to receive the vaccine.
Pfizer disclosed last week that the US government had exercised its final purchase option to buy 50 million additional doses of its Covid vaccine. That brings the total number of pediatric doses of the vaccine to 115 million, which is enough to vaccinate every US child. Overall, the federal government has now purchased a total of 600 million doses across all age ranges under its supply agreement.