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Pfizer optimistic about rebound in drug sales, raises 2020 profit forecast

The report comes at the start of a busy week of US pharmaceutical earnings, with investors focusing on updates on the development of vaccines and treatments for the pandemic

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The Pfizer logo is seen at their world headquarters in New York

2 min read Last Updated : Jul 28 2020 | 8:40 PM IST

Pfizer Inc raised its full-year earnings forecast on Tuesday, as the US drugmaker predicted a recovery in vaccination rates and visits to doctors after patients avoided hospitals due to the coronavirus crisis in the first half.

The report comes at the start of a busy week of US pharmaceutical earnings, with investors focusing on updates on the development of vaccines and treatments for the pandemic.

Pfizer and German partner BioNTech SE said on Monday they were beginning a late-stage, global study to test their coronavirus vaccine candidate, launching on the same day as a trial for a rival candidate developed

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