Waiting for Big Pharma's Coronavirus Profits to Impress
Feb 20, 2021 16:23:03 GMT
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Post by c2crusher on Feb 20, 2021 16:23:03 GMT
Waiting for Big Pharma's Coronavirus Profits to Impress Wall Street
www.wsj.com/articles/waiting-for-big-pharmas-coronavirus-profits-to-impress-wall-street-11613563200
For big pharma, a fresh $15 billion in sales just isn't what it used to be.
Vaccines and therapeutics for Covid-19 have been an unexpected windfall for the drug industry, and there is more where that came from as the pandemic drags on. Pfizer said earlier this month that it expects to book $15 billion in sales from its Covid-19 vaccine in 2021. To put that figure in context, it is roughly equivalent to Pfizer's entire oncology and immunology revenue in 2020. Pfizer's total top line was just under $42 billion in 2020. What is more, that vaccine sales forecast is very conservative, as it only includes sales from doses from existing contracts with governments. Meanwhile, Gilead Sciences announced that it expects to sell between $2 billion and $3 billion of its antiviral drug remdesivir in 2021. It booked $2.8 billion in sales of the drug in 2020, most of it in the fourth quarter.
www.wsj.com/articles/waiting-for-big-pharmas-coronavirus-profits-to-impress-wall-street-11613563200
For big pharma, a fresh $15 billion in sales just isn't what it used to be.
Vaccines and therapeutics for Covid-19 have been an unexpected windfall for the drug industry, and there is more where that came from as the pandemic drags on. Pfizer said earlier this month that it expects to book $15 billion in sales from its Covid-19 vaccine in 2021. To put that figure in context, it is roughly equivalent to Pfizer's entire oncology and immunology revenue in 2020. Pfizer's total top line was just under $42 billion in 2020. What is more, that vaccine sales forecast is very conservative, as it only includes sales from doses from existing contracts with governments. Meanwhile, Gilead Sciences announced that it expects to sell between $2 billion and $3 billion of its antiviral drug remdesivir in 2021. It booked $2.8 billion in sales of the drug in 2020, most of it in the fourth quarter.