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Pfizer Raises Earnings Outlook Even as Covid-Era Supply Deals Slow

  • Covid-19 vaccine and drug sales drive second-quarter results
  • Drugmaker moving highly anticipated mRNA flu shot forward
Empty Pfizer-BioNTech Covid-19 vaccine vials in Lansdale, Pennsylvania.

Empty Pfizer-BioNTech Covid-19 vaccine vials in Lansdale, Pennsylvania.

Photographer: Hannah Beier/Bloomberg
Updated on

Pfizer Inc. raised the lower end of its earnings forecast for the year and reiterated its sales expectations despite unfavorable currency trends. The drugmaker continues to project its new Covid-19 products will bring in over $50 billion of revenue this year.

The company’s new Covid shot and pill will generate more half of Pfizer’s sales this year, helping offsetting other slower growing parts of the business. Pfizer didn’t raise guidance for either of those products though, leaving expectations shy of Wall Street’s projections and raising the prospect that the wave of Covid sales might be peaking.