Pfizer executives on Tuesday expressed optimism about the possibility of providing a vaccine against the new coronavirus as early as 2020, while the pharmaceutical giant announced a third quarter profit cut due to the cessation of non-health activities. covid-19, which caused a decrease in demand for the drug.
Pfizer CEO Albert Burla said the drugmaker could make about 40 million doses available in the United States later this year if clinical trials continue as expected and regulators approve the vaccine.
“If everything goes well, we will be ready to distribute the initial number of doses.”said Burla, who mentioned a US government agreement with Pfizer to supply 40 million doses by the end of this year and 100 million doses by March 2021.
Burla, however, said the company had not yet reached the key benchmarks in assessing the effectiveness of the vaccine. Pfizer has previously said it may have data on the drug as early as October.
“I am very optimistic that the vaccine will work,” he said
The CEO said that The company expects to apply for urgent authorization for the covid-19 vaccine in the third week of November.
Asked if he was optimistic about the vaccine’s effectiveness, Burla said: “I am cautiously optimistic that the vaccine will work.”
Pfizer reported a 71% drop in profits to $ 2.2 billion. Revenue, however, fell 4% to $ 12.1 billion.
The pharmaceutical giant has estimated $ 500 million in revenue impact on Covid-19. The company also saw an 11% drop in hospital operations in emerging markets, mainly due to declining election operations in China and declining hospitalizations in the country. This effect was partially offset by increased demand for the Prevnar-13 pneumonia vaccine “as a result of increased awareness of the respiratory vaccine,” the company said.
Pfizer also cited strong performance in its biopharmaceutical business due to the good sales of Ibrans anti-cancer drug, anticoagulant elixir and other drugs.