Could still deliver a Covid-19 vaccine in 2020, says Pfizer


PTI, Oct 28, 2020, 11:26 AM IST

Image for representation

New York: Pfizer executives expressed measured optimism Tuesday over the prospect of providing a coronavirus vaccine in 2020 as the pharma giant reported lower third-quarter profits due to disruption in healthcare that dented drug demand.

Pfizer Chief Executive Albert Bourla said the drug giant could supply some 40 million doses in the United States in 2020 if clinical testing proceeds as expected and regulators approve a vaccine.

“If all goes well, we will be ready to distribute an initial number of doses,” said Bourla, who pointed to a US government contract for Pfizer to supply 40 million doses by the end of this year and 100 million doses by March 2021.

But Bourla said the company still had not reached key benchmarks in assessing vaccine efficacy. Pfizer has said previously that it could have the data in October.

Bourla said the company expects to file for emergency use authorization for its Covid-19 vaccine in the third week of November, roughly in line with earlier timetables.

Asked if he was “bullish” the vaccine would work, Bourla said: “I’m not bullish a vaccine will work. I’m cautiously optimistic that the vaccine will work.”

Regarding earnings, Pfizer reported a 71 per cent drop in profit to $2.2 billion. The year-ago period included a large gain connected to a transaction.

Revenues dipped four per cent to $12.1 billion, missing analyst estimates.

Pfizer estimated a revenue hit of $500 million connected to Covid-19 due to lower pharma demand in China and fewer wellness visits from patients in the US.

The company saw an 11 per cent drop in its hospital business in emerging markets, primarily due to fewer elective surgeries in China and shorter in-patient hospital stays in the country.

This effect was partially offset by increased demand for the Prevnar-13 vaccine for pneumonia “resulting from greater vaccine awareness for respiratory illnesses,” the company said.

Pfizer also cited strong performance in its biopharma business due to good sales for cancer drug Ibrance, anticoagulant Eliquis and other medications.

Shares edged up 0.1 per cent to $37.97 in afternoon trading.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Omicron is a product of vaccine apartheid

RBI maintains status quo for 9th consecutive time; retains repo rate at 4 pc

Farmers’ stir: SKM committee likely to meet Shah, Tomar

Cattle theft increased after BJP came to power: MLA Khader

Australia joins US in diplomatic boycott of 2022 Beijing Winter Olympics

MLC Polls: Bommai assures BJP candidate’s victory in Belagavi from local bodies

Chikkamagaluru: Man arrested for attempting to sexually abuse 5-year-old


Related Articles More

Top WHO official says existing vaccines failing against Omicron ‘highly unlikely’

Malaysian court upholds ex-premier Najib’s graft conviction

Woman says Maxwell abused her at age 14

Suspect in Saudi journalist Jamal Khashoggi’s killing arrested in France

Major outage hits Amazon Web Services; many sites affected

MUST WATCH

Man Accidentally Burns Down House Worth 13 Crore Rs While Trying to Get Rid of Snakes

NEWS BULLETIN 07-12-2021

FIRST DOCTORATE FROM SIDDHI COMMUNITY

Cobra’s Head Gets Stuck in Beer Can

Karnataka law students on warpath against KSLU


Latest Additions

World’s largest cannabis brownie, weighing 385 kg, is on sale

Padma Lakshmi shares photo of a naan bedsheet with pilau cases, internet is in a tizzy

Scientists developing chewing gum that could cut Covid transmission

Mangaluru: Activist demands law student sexual harassment case be handed to DCP Hariram Shankar

Omicron is a product of vaccine apartheid

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.