Pfizer raises 2022 sales forecast

Pfizer has raised its forecast for 2022 sales of its COVID-19 vaccine by $2 billion to $34 billion.

The company also said new deals and drugs in development should help replace future declining vaccine sales and lost revenue from patent expirations.

Profits were up mainly due to higher-than-expected sales of the vaccine it shares with German partner BioNTech.

Sales of the Pfizer/BioNTech COVID vaccine are down from pandemic highs as many countries have neared the end of their primary vaccination campaigns.