Pfizer sees high demand for COVID-19 pill as profits jump

Pfizer reported a quarter of high revenue as a result of the Covid-19 vaccine.

Pfizer executives said on Tuesday that they are optimistic about the company’s strong demand for COVID-19 anti-retroviral drugs while simplifying the virus while the chief pharmaceutical company reports another round. I make a strong profit.

The U.S. pharmaceutical giant, reports a quarterly profit margin in relation to the big jump in revenue from COVID-19. preventionsaid her Paxlovid solution to the virus would be an important way for governments to limit the severity of outbreaks while facilitating public outreach and face-to-face legislation.

Pfizer President Albert Bourla said company sees “strong signs of increasing Paxlovid’s demand while being one of the best tools we have available.”

Mentioning the fatigue of the vaccine, Bourla said the company is also focusing on improving the COVID-19 vaccine which provides protection for one year.

“People are tired of re-energizing, so it is very important to come up with a treatment that can be preventive every year,” Bourla told analysts in a conference call, adding that while the company has made progress in this part, “is not so. actually easy to achieve.”

“There is a lot of pressure all over the world to get our lives back on track,” Bourla said of the social and political effort to ease the burden of the disease. “The result of these events is clearly that we will have waves” of COVID-19.

The risk of ‘cancellation’

U.S. pharmaceutical companies reported $ 7.9 billion in revenue in the first quarter, up 61 percent, up 77 percent from $ 25.7 billion.

Pfizer lowered its adjusted full-year profit by 10 cents to $ 6.25 to $ 6.45 per share, due in part to the upside.

But the company has confirmed its full-year revenue forecast of nearly $ 100 billion, which is an almost 23 percent increase over the 2021 level. More than half of the revenue is expected to come from COVID-19 treatment and treatment.

Pfizer, which has shipped 3.4 billion doses of the vaccine to 179 countries, has received official approval for its shot in several age groups, but continues to study its use in children under five.

In the first quarter, Paxlovid received $ 1.5 billion in revenue global sales. But Pfizer expects to sell the 2022 solution for $ 22 billion while boosting production and distribution.

The company expects to produce 120 million units of Paxlovid oral contraceptives by 2022, with distribution plans in the US and other markets.

The drug has received immediate or conditional approval in 40 countries so far, the company said.

“What we are seeing is that there is a need for this product,” said Angela Hwang, president of Pfizer Biopharmaceuticals.

“What we are seeing is that we do not have any luggage on hand,” Hwang said. “Every unit we produce is exported.”

Pfizer officials say they are investigating a “recurrence” of COVID-19 cases that some patients who took Paxlovid reported updating the symptoms.

But company officials say the data so far indicate that the number of complaints is small and may be related to an unusual medical condition rather than the treatment itself.

The World Health Organization last month “strongly recommended” Paxlovid vaccine for patients with low-grade forms of the disease who are still at risk of hospitalization.

But the WHO said it was “very concerned” that the low- and middle-income countries will be “pushed to the end of the queue” in the face of global warming.

Shares of Pfizer rose 1.7 percent to $ 49.17 a day in trading.

Pfizer Q1 shares jumped 77% to $ 25.7bn over the Covid-19 range

© 2022 AFP

hintPfizer sees high demand for COVID-19 as a lucrative (2022, May 3) return on May 3, 2022 from .html

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Pfizer sees high demand for COVID-19 pill as profits jump Source link Pfizer sees high demand for COVID-19 pill as profits jump

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