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• Pfizer's vaccine reports $12.5 billion in sales in the last three months of 2021
• The company anticipates sales of $98 billion to $102 billion in 2022
• The company’s fourth-quarter revenue more than doubled year on year to $23.84 billion
Pfizer Inc. (NYSE: PFE) shares fell 3.78% in premarket trade Tuesday after the drugmaker full-year sales projection for its Covid-19 vaccine and antiviral tablet fell short of analyst expectations.
However, the company's fourth-quarter results were mixed, with earnings meeting expectations but revenue falling short.
Here's how the company performed in comparison to what Wall Street predicted:
EPS Adjusted: $1.08 compared. the predicted 87 cents
Revenue: $23.84 billion, compared to the estimated $24.12 billion.
The drugmaker anticipates $54 billion in combined sales of both drugs this year, with COVID-19 vaccine sales of $32 billion and Paxlovid, its oral antiviral to treat the illness, sales of $22 billion.
According to Refinitiv statistics, analysts predicted that the COVID-19 vaccine will sell for $33.79 billion and Paxlovid would sell for $22.88 billion.
Pfizer's revenue shortfall was caused by weak sales in its internal medicine and hospital sectors. Internal medicine sales declined 3% year on year to $2.24 billion in the fourth quarter, while hospital sales were essentially unchanged at $1.88 billion in the same time in 2020.
The company’s fourth-quarter revenue, on the other hand, more than doubled year on year to $23.84 billion.
Pfizer's vaccine generated $12.5 billion in sales in the last three months of 2021, contributing to total revenue of $23.84 billion. Paxlovid, which was approved by the Food and Drug Administration just before the end of the quarter, increased revenues by $76 million.
The drugmaker’s unadjusted fourth-quarter earnings more than quadrupled to $3.39 billion from $847 million in the same three months in 2020.
The company anticipates sales of $98 billion to $102 billion in 2022, with adjusted earnings per share ranging from $6.35 to $6.55.
Picture Credits: ET