Pfizer has reported a net income of $4.8bn, or $0.86 per diluted share, for the first quarter of 2021, a 45% increase compared to $3.3bn, or $0.60 per diluted share, for the same period of 2020.
The US-based drug company has reported revenues of $14.5bn for Q1 2021, an increase of 45% compared to $10.1bn for the corresponding quarter of the previous year.
According to Pfizer, the first-quarter 2021 operational growth was primarily driven by the Pfizer-BioNTech Covid-19 vaccine, BNT162b2, which contributed $3.5bn in global revenues.
The US-based firm now expects revenue of nearly $26bn for BNT162b2, reflecting 1.6 billion doses expected to be delivered this year as per signed contracts as of mid-April 2021.
Pfizer chairman and CEO Dr Albert Bourla said: “I am extremely proud of the way we have begun 2021, delivering strong financial results in the first quarter.
“Even excluding the growth provided from BNT162b2, our revenues grew 8% operationally, which aligns with our stated goal of delivering at least a 6% compound annual growth rate through 2025.
“In addition, we have achieved important clinical, regulatory and commercial milestones across our pipeline and portfolio while also continuing to increase our capacity to supply urgently-needed doses of BNT162b2 to the world.”
The firm’s Vaccines unit has reported revenues of $4.8bn for Q1 2021, compared to $1.6bn for the same period of the last year.
The Oncology business has reported revenues of $2.8bn for Q1 2021, an increase of 18% compared to $2.4bn for the corresponding period of 2020.
Pfizer’s Internal Medicine segment has reported revenues of $2.5bn for Q1 2021, an 11% increase compared to $2.3bn for the same quarter of the last year.
The Hospital segment of the US-based firm has reported revenues of $2.3bn for the first quarter of 2021, a 12% increase compared to $2.1bn for the same period of 2020.
The company’s Inflammation & Immunology unit has reported revenues of $1.06bn for Q1 2021, a 9% increase compared to $978m for the corresponding period of the last year.
Pfizer’s Rare Disease segment has reported revenues of $824m for Q1 2021, an increase of 29% compared to $639m for the same quarter of 2020.
