Strong sales of its COVID-19 vaccine and other medicines helped Pfizer nearly double its second-quarter revenue and boost its profit an impressive 59 per cent, beating Wall Street expectations and leading the drug giant to sharply hike its 2021 sales and profit forecasts.
Adjusted income, excluding one-time gains and losses, amounted to US$6.08 billion, or US$1.07 per share, well above the 97 cents that Wall Street had expected, according to a survey by Zacks Investment Research.The drugmaker also beat revenue expectations, posting revenue of US$18.98 billion, up from US$9.86 billion a year earlier.
Sales jumped by double digits for Pfizer's drugs for cancer and rare diseases, as well as its medicines primarily used in hospitals.
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