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Pfizer executives expressed optimism on Tuesday about the prospect of providing a vaccine against the novel coronavirus as early as 2020, as the pharmaceutical giant reported a decline in profits in the third quarter due to the interruption of non-healthcare business. covid-19, which caused a reduction in the demand for drugs.
Pfizer chief executive Albert Bourla said the manufacturer could make about 40 million doses available in the U.S. by the end of the year if clinical trials continue as planned and regulators approve the vaccine. .
“Hopefully, we will be ready to distribute an initial number of doses”, said Bourla, who mentioned a U.S. government contract with Pfizer to provide 40 million doses by the end of this year and 100 million doses by March 2021.
Bourla said, however, that the company has not yet reached the main benchmarks in evaluating the vaccine’s effectiveness. Pfizer previously said it had data on the drug as early as October.
“Carefully optimistic that the vaccine will work,” says the CEO
The CEO said so the company plans to apply for an emergency clearance for the covid-19 vaccine in the third week of November.
Asked if he was optimistic about the vaccine’s effectiveness, Bourla said, “I’m cautiously optimistic that the vaccine will work.”
Pfizer reported a 71% drop in profits to $ 2.2 billion. Revenues, however, fell 4% to $ 12.1 billion.
The pharmaceutical giant has estimated a $ 500 million revenue impact related to covid-19. The company also saw an 11% decline in the hospital business in emerging markets, mainly due to the reduction in elective surgeries in China and the decrease in hospitalizations in the country. This effect was partly offset by the increased demand for the Prevnar-13 pneumonia vaccine “resulting from increased awareness of the respiratory disease vaccine,” the company announced.
Pfizer also cited strong performance in its biopharmaceutical business thanks to good sales of the cancer drug Ibrance, the anticoagulant Eliquis and other drugs.
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