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Pfizer sees robust COVID-19 vaccine demand for years, $26 billion in 2021 sales By Reuters

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Pfizer sees robust COVID-19 vaccine demand for years,  billion in 2021 sales By Reuters


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© Reuters. FILE PHOTO: A man receives a second dose of the Pfizer-BioNTech vaccine against the coronavirus disease (COVID-19) at the hall three of the Belgrade Fair, in Belgrade, Serbia, April 13, 2021. REUTERS/Marko Djurica

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By Manas Mishra and Michael Erman

(Reuters) -Pfizer Inc on Tuesday raised its forecast for 2021 COVID-19 vaccine sales by more than 70% to $26 billion and said demand from governments around the world fighting to halt the pandemic could contribute to its growth for years to come.

The company said it expects to file for full U.S. approval of the vaccine in May for people over the age of 16, as it is now only authorized for emergency use. It also expects to hear soon from U.S. regulators on expansion of the vaccine’s emergency use authorization (EUA) for children ages 12-15.

Revenue from the vaccine – developed with German partner BioNTech SE (NASDAQ:) – is expected to account for more than one third of Pfizer (NYSE:)’s sales this year.

The forecast is based on contracts to deliver 1.6 billion vaccine doses this year. The company expects to sign more deals for this year and is in supply talks with several countries for 2022 and beyond.

“Based on what we’ve seen, we believe that a durable demand for our COVID-19 vaccine – similar to that of the flu vaccines – is a likely outcome,” Chief Executive Albert Bourla said.

The two-shot vaccine was Pfizer’s top-selling product in the first quarter. Expenses and profit from the vaccine are split 50-50 between Pfizer and BioNTech.

Given persistent infections globally and ongoing discussions with governments, Mizuho analyst Vamil Divan said the 2021 forecast could increase further and spill over to future years.

Daily vaccination rates for adults in the United States are off more than 25% since hitting a peak in mid-April. Authorization in children would expand the vaccine-eligible population by millions of people.

Pfizer said it expects to have safety and efficacy data for children ages 2-to-11 in September, when it plans to ask for further expansion of the EUA for that age group.

The company has also filed new data with U.S. regulators that would allow the vaccine to be stored at standard refrigerator temperatures for up to four weeks, up from five days currently.

Pfizer and BioNTech aim to produce up to 2.5 billion COVID-19 vaccine doses this year, 900 million of which are not yet included in the New York-based drugmaker’s sales forecast.

If Pfizer sells that number of doses at similar prices, the vaccine’s sales in 2021 could be more than 50% above the projected $26 billion.

Moderna (NASDAQ:) Inc has forecast $18.4 billion in 2021 sales of its similar COVID-19 vaccine.

Pfizer expects to profit from the vaccine, while some drugmakers including Johnson & Johnson (NYSE:) have said their vaccine will be sold on a not-for-profit basis until the end of the pandemic.

Pfizer aims to manufacture at least 3 billion doses of the vaccine next year. It also expects to have safety and immunogenicity data from a third booster dose of the vaccine in July.

Pfizer and BioNTech have published data showing impressive durability for their vaccine at least six months after vaccination. Still, Bourla said he believes regular boosters will be needed to maintain high levels of immunity, and governments around the world have started signing deals for the shots.

The COVID-19 vaccine generated $3.5 billion in revenue in the first quarter, exceeding analysts’ estimates of $3.28 billion, according to Refinitiv data.

Total revenue for the quarter of $14.6 billion, topped analysts’ forecasts of $13.5 billion.

It plans to boost R&D spending to fuel drug discovery using the messenger RNA technology in the COVID-19 vaccine. The company is developing two flu vaccines that are expected to enter clinical trials in the third quarter.

Pfizer shares were down slightly in afternoon trading.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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India adds 311,170 daily coronavirus infections to nearly 24.7 million By Reuters

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India adds 311,170 daily coronavirus infections to nearly 24.7 million By Reuters



© Reuters. FILE PHOTO: A couple mourns as they stand next to the funeral pyre of a relative who died due to the coronavirus disease (COVID-19), at a crematorium in New Delhi, India, May 10, 2021. REUTERS/Adnan Abidi

BENGALURU (Reuters) – India’s tally of coronavirus infections reached nearly 24.7 million on Sunday, boosted by 311,170 new cases over the last 24 hours, while deaths rose by 4,077.

The South Asian nation’s tally stands at 24.68 million with the death toll at 270,284, health ministry data showed.

(Corrects tally in headline, paragraph 1)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Altcoins pop while Bitcoin looks for support near $50,000 By Cointelegraph

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Altcoins pop while Bitcoin looks for support near ,000 By Cointelegraph



Altcoins pop while Bitcoin looks for support near $50,000

(BTC) continues to look for direction, but as this occurred, Ether (ETH) and altcoins bounced higher from the Thursday sell-off. Dogecoin (DOGE) shocked investors with its 47% rally that kicked off after Coinbase announced that it would list DOGE in the coming months. DOGE’s price also rallied after Elon Musk tweeted that he was “working with Doge devs to improve system transaction efficiency. Potentially promising.”

While many altcoins have seen double-digit gains during the recovery, the price of Bitcoin has continued to languish near the $50,000 level as whale wallets containing at least 1,000 BTC have declined by 4.7% compared to the previous month, indicating possible profit taking or a rotation into different assets.

ETH/USDT 4-hour chart. Source: TradingView
Percentage of total market capitalization dominance. Source: CoinMarketCap
Daily cryptocurrency market performance. Source: Coin360