Pfizer boosts full-year guidance, on track for vaccine deliveries

Drug giant Pfizer blew past analysts' forecasts for its third quarter, beating on both its top and bottom line and guiding the market consensus higher.

The company also said it remained on track to deliver 1.0bn doses of its MRNA vaccine against Covid-19 in both 2021 and 2022 with sales from the shot expected to hit $36bn this year.

For the quarter ending on 30 September, Pfizer posted sales of approximately $24.1bn, which was up from roughly $10.3bn one year before and comfortably ahead of estimates on the Street.

Adjusted earnings per share meanwhile came in at $1.34 (FactSet: $1.08).

Looking ahead, the company guided towards full-year sales of $81.0-82.0bn, against a prior forecast for $78.0-80.0bn, for EPS of $4.13-4.18, which was up from $3.94-4.05.

As of 1259 GMT, shares of Pfizer were trading 3.21% higher to $45.05.