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Tuesday 27 October 2020
Together with its German partner Biontech, Pfizer is in a management position seeking a corona vaccine. However, the optimistic announcement that results will be presented later this week will likely no longer be sustainable.
Pfizer will likely not be able to present a result of its advanced Covid vaccine study in October. At the time of presentation of the economic data, the US group did not provide specific data on the vaccine study developed with the German Biontech. The independent committee, which decides success or failure, has not yet determined interim results on efficacy. The company is not yet ready to release data from the advanced study, Pfizer said.
However, the company announced that the group of study participants will be expanded to 44,000 from the original 30,000. You can now include other groups of people in the study as well, such as adolescents aged 16 and people infected with immunodeficiency virus (HIV), hepatitis C, or hepatitis B.
Pfizer CEO Albert Bourla initially said the data could be available by the end of October. Earlier in the week, he said he was “cautiously optimistic” that the vaccine would work. A success can be announced within a week. This means that the result will likely not be available before the US election on November 3. US President Donald Trump said in August that a vaccine could be available before election day.
Pfizer and Biontech are among the leading companies in the vaccine race, along with the US Moderna and the UK AstraZeneca. In case of positive study results with their corona vaccine, they are targeting an application for approval in late November.
Pfizer reported consolidated revenue of $ 12.1 billion for the third quarter of 4.3%. One reason is the competitive pressure in the pain reliever Lyrica. The pandemic also reached $ 500 million. The New York City-based company earned just under $ 2.2 billion after a good $ 7.7 billion a year ago. Without special items, earnings per share were 72 cents, one cent more than experts’ forecasts.
With the data after nine months, Pfizer also specified its forecast for 2020. The company expects annual sales between $ 48.8 and $ 49.5 billion and now expects adjusted earnings per share between 2.88 and 2. 93 dollars.
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