Pfizer Projects 2021 Revenues of $81 Bn to $82 BnBy
Pfizer has raised its full-year 2021 guidance and estimates total global revenues of $81 billion to $82 billion, which includes anticipated 2021 revenues of approximately $36 billion for Comirnaty, its COVID-19 vaccine developed in partnership with BioNTech. Revenues for non-COVID-19 products for the full-year 2021 are estimated at $45 billion to $46 billion.
The Comirnaty revenue projection includes approximately 2.3 billion doses that are expected to be delivered in fiscal year 2021 based on expected ordering patterns through the end of December 2021 for the US and through the end of November 2021 for the rest of the world. Pfizer and BioNTech continue to expect to manufacture 3 billion doses in total by the end of December 2021.
To put its 2021 revenue estimate of $81 billion to $82 billion in context, for the full-year 2020, the company reported revenues of $41.9 billion. For the first nine-months of 2021, the company reported revenues of nearly $57.7 billion, a 91% increase compared to the year-ago period when it reported revenues of $30.2 billion for the first nine months of 2020.
The addition of its COVID-19 vaccine has made Pfizer’s vaccines business its largest business segment with revenues of $28.7 billion, or 50% of its total revenues, based on revenues from the first nine months of 2021. Oncology represents its second largest product segment, accounting for 16% of revenues, followed by internal medicine products (12%), hospital products (12%), inflammatory and immunology products (6%) and rare diseases products (4%), based on revenues from the first nine months of 2021.
In providing its estimates for its COVID-19 vaccine, Pfizer noted that more than 75% of the revenues that the company has recorded through the third-quarter 2021 for Comirnaty have come from supplying countries outside the US. In addition, the company says it remains on track to achieve its goal of delivering at least two billion doses to low- and middle-income countries by the end of 2022—at least one billion to be delivered this year (2021) and one billion next year (2022), with the possibility to increase those deliveries if more orders are placed by these countries for 2022. One billion of these doses will be supplied to the US government at a not-for-profit price for donation to other countries.