Whatâs Going On Here?Pfizerâs quarterly results beat analyst expectations on Tuesday, and the pharma giantâs planning to keep milking this fifteen minutes of fame for all itâs worth. What Does This Mean?Pfizerâs better-than-expected revenue and profit had a lot to do with the little-known vaccine it co-produced with BioNTech â though its non-coronavirus-related drugs beat expectations too. But even the company couldnât have anticipated just how efficient some vaccine rollouts have been, and itâs now expecting to deliver 1.6 billion doses by the end of the year â way more than it previously predicted. That encouraged it to bump up its earnings forecasts for the rest of 2021, which was just what the doctor â or, uh, its investors â ordered. Why Should I Care?Zooming in: Do good things, and good things happen to you.
There are a few reasons Pfizerâs strong run of form looks set to continue. For one thing, it mightâve become Americaâs go-to after Johnson & Johnsonâs one-shot vaccine was put on hold over its potential side effects (tweet this). Those queries have been ironed out, sure, but the damage to its reputation might already be done. For another thing, Pfizerâs market could be about to get a lot bigger: its vaccine is currently being evaluated by European regulators for use among teens, and itâs hoping India might fast-track approval to bring the countryâs spiraling crisis to an end.
The bigger picture: Drug stores canât kick the habit.
The vaccineâs been working wonders every which way you look: CVS Health â which has been doling out jabs to Americans across its network of pharmacies â reported better-than-expected quarterly earnings of its own on Tuesday. The company raised its forecast for the rest of the year, and that gave its stock the shot in the arm it needed. | 