Pfizer raises COVID-19 vaccine sales forecast

Pfizer’s booster shot is giving its vaccine business a further shot in the arm.

The drug maker on Tuesday hiked the full-year sales forecast for its COVID-19 vaccine by 7.5% to $36 billion.

It’s rolling out booster doses as it receives clearances for using the shots in broader age groups and signs deals with more countries.

In the latest quarter, its COVID-19 vaccine pulled in sales of $13 billion, enabling Pfizer to more than double its top line. It accounted for more than half of the company’s overall revenue.

Developed with its German partner BioNTech, the shot has become one of Pfizer’s best-selling products in its 172-year history.

Shares of Pfizer rose in early trading Tuesday, adding to their nearly 19% gain this year.

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