Pfizer says it could still deliver a Covid-19 vaccine in 2020
Pfizer executives expressed measured optimism Tuesday over the prospect of providing a coronavirus vaccine in 2020 as the pharma giant reported lower third-quarter profits due to disruption in healthcare that dented drug demand.
"If all goes well, we will be ready to distribute an initial number of doses," said Bourla, who pointed to a US government contract for Pfizer to supply 40 million doses by the end of this year and 100 million doses by March 2021.
Bourla said the company expects to file for emergency use authorization for its Covid-19 vaccine in the third week of November, roughly in line with earlier timetables.
Regarding earnings, Pfizer reported a 71 percent drop in profit to $2.2 billion. The year-ago period included a large gain connected to a transaction.
Revenues dipped four percent to $12.1 billion, missing analyst estimates.
Pfizer estimated a revenue hit of $500 million connected to Covid-19 due to lower pharma demand in China and fewer wellness visits from patients in the US.
The company saw an 11 percent drop in its hospital business in emerging markets, primarily due to fewer elective surgeries in China and shorter in-patient hospital stays in the country.
Pfizer also cited strong performance in its biopharma business due to good sales for cancer drug Ibrance, anticoagulant Eliquis and other medications.
Shares edged up 0.1 percent to $37.97 in afternoon trading.