Pharmaceutical giant Pfizer is forecasting sales of $ 15 billion (£ 11 billion) against the backdrop of the spread of vaccines around the world and the rise in the incidence of mutations, the company said in its quarterly report for the fourth quarter of 2020.
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As is well known, Pfizer’s vaccine was the first to be approved for use by countries including the United Kingdom and the United States. Vaccines make up a quarter of the pharmaceutical giant’s revenue this year.
As part of the war effort in Corona, Pfizer is trying to deliver two billion doses of vaccine in 2021 as quickly as possible after signing with various countries. In the fourth quarter of last year, the vaccine brought in sales worth $ 154 million for Pfizer.
In recent weeks, concerns have emerged about an inter-state struggle over vaccines while making it difficult to deliver them. This past weekend, the EU reversed its decision to issue an emergency order in the Brexit deal that could have prevented shipments from entering countries outside the bloc such as the UK.
Implementing emergency regulations was one of the steps the EU sought to adopt to prevent a shortage of vaccines in Central Europe. Pfizer has pledged to deliver 40 million vaccine doses to the UK by the end of the year.
On Tuesday, Japan announced that it would receive all of the vaccine packs it had purchased from Diffuser and Bio-Tech after fears that EU export controls might delay the vaccination program in Japan. The country lags behind most major economies in terms of adopting vaccines, due to its dependence on pharmaceutical companies overseas and insistence that vaccines should undergo local trials.
Pfizer and BioNTech have increased production capacity to more than two billion batches a year from the previous rate of 1.3 billion to meet demand. This is after the supply encountered difficulties in some countries in Europe.
To achieve its global goal, Pfizer will need to deliver about 10 million doses a week on average.
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