NEW YORK (AP) – Pfizer executives expressed measured optimism Tuesday about the possibility of providing a coronavirus vaccine in 2020, even as they noted that key facts about the vaccine would not be released before the U.S. election.
Pfizer CEO Albert Bourla said the pharmaceutical giant could supply about 40 million doses in the United States in 2020 if clinical trials progress as expected and regulators approve a vaccine.
“If all goes well, we will be ready to distribute an initial amount of doses,” said Bourla, who noted a contract with the US government for Pfizer to supply 40 million doses by the end of this year and 100 million doses. by March 2021.
But Bourla said the company had not yet reached key benchmarks for evaluating the vaccine’s efficacy.
Pfizer previously said it could have the data in October, which could have moved the process forward before the November 3 presidential election.
“We have reached the last mile here,” Bourla said. “So let’s have the patience for something so important to public health and the world economy.”
He said the company expects to apply for an emergency use authorization for its Covid-19 vaccine in the third week of November, roughly in line with previous schedules.
When asked if he was “optimistic” that the vaccine would work, Bourla said: “I am cautiously optimistic that the vaccine will work.”
– Drop in doctor visits: Pfizer reported a 71 percent drop in profits to $ 2.2 billion in the latest quarter. However, the comparable period last year included a large gain related to a transaction.
Revenue fell four percent to $ 12.1 billion, missing analyst estimates.
Pfizer estimated a revenue impact of $ 500 million connected to Covid-19 due to lower pharmaceutical demand in China and fewer wellness visits by American patients.
The company experienced an 11 percent drop in its hospital business in emerging markets, mainly due to fewer elective surgeries in China and shorter hospital stays in the country.
This effect was partially offset by increased demand for the Prevnar-13 vaccine for pneumonia “as a result of increased awareness of the vaccine for respiratory diseases,” the company said.
Pfizer also cited strong performance in its biopharmaceutical business due to good sales of the cancer drug Ibrance, the blood thinner Eliquis, and other drugs.
Rival drugmaker Merck is also working on coronavirus vaccines, but the company is at an earlier stage compared to Pfizer.
Merck said a coronavirus vaccine candidate had entered phase 1 development and a second candidate would reach that stage shortly.
Merck reported a 55 percent increase in quarterly profit to $ 2.9 billion on a one percent increase in revenue to $ 12.6 billion.
Shares of Pfizer fell 1.3 percent to $ 37.43, while Merck was down 1.1 percent to $ 77.99.
Pfizer CEO Albert Bourla said the pharmaceutical giant could supply about 40 million doses in the United States in 2020 if clinical trials progress as expected and regulators approve a vaccine.
“If all goes well, we will be ready to distribute an initial amount of doses,” said Bourla, who noted a contract with the US government for Pfizer to supply 40 million doses by the end of this year and 100 million doses. by March 2021.
But Bourla said the company had not yet reached key benchmarks for evaluating the vaccine’s efficacy.
Pfizer previously said it could have the data in October, which could have moved the process forward before the November 3 presidential election.
“We have reached the last mile here,” Bourla said. “So let’s have the patience for something so important to public health and the world economy.”
He said the company expects to apply for an emergency use authorization for its Covid-19 vaccine in the third week of November, roughly in line with previous schedules.
When asked if he was “optimistic” that the vaccine would work, Bourla said: “I am cautiously optimistic that the vaccine will work.”
– Drop in doctor visits: Pfizer reported a 71 percent drop in profits to $ 2.2 billion in the latest quarter. However, the comparable period last year included a large gain related to a transaction.
Revenue fell four percent to $ 12.1 billion, missing analyst estimates.
Pfizer estimated a revenue impact of $ 500 million connected to Covid-19 due to lower pharmaceutical demand in China and fewer wellness visits by American patients.
The company experienced an 11 percent drop in its hospital business in emerging markets, mainly due to fewer elective surgeries in China and shorter hospital stays in the country.
This effect was partially offset by increased demand for the Prevnar-13 vaccine for pneumonia “as a result of increased awareness of the vaccine for respiratory diseases,” the company said.
Pfizer also cited strong performance in its biopharmaceutical business due to good sales of the cancer drug Ibrance, the blood thinner Eliquis, and other drugs.
Rival drugmaker Merck is also working on coronavirus vaccines, but the company is at an earlier stage compared to Pfizer.
Merck said a coronavirus vaccine candidate had entered phase 1 development and a second candidate would reach that stage shortly.
Merck reported a 55 percent increase in quarterly profit to $ 2.9 billion on a one percent increase in revenue to $ 12.6 billion.
Shares of Pfizer fell 1.3 percent to $ 37.43, while Merck was down 1.1 percent to $ 77.99.
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