Pfizer boosts COVID vaccine sales forecast by $2b

DUBAI: Pfizer Inc. on Tuesday raised its forecast for annual sales of its COVID-19 vaccine by $2 billion to $34 billion on demand for omicron-targeted boosters, helping allay some investor worries over growth for the vaccinations.
The US drugmaker’s shares rose 2.4 percent to $447.67 in morning trading as its third-quarter profit beat estimates, mainly due to better-than-expected sales of the vaccine.
The upbeat earnings also sent shares of rival COVID-19 vaccine makers higher. Novavax Inc. rose 11 percent, while Moderna Inc. gained about 4 percent.