Sales of Pfizer's COVID-19 vaccine and treatment pushed the drugmaker well past expectations in the first quarter, as profit grew 61 percent. The coronavirus vaccine, Comirnaty, brought in more than $13 billion in sales, and the treatment Paxlovid added another $1.5 billion as company revenue swelled 77 percent, the company said on Tuesday.

Also read: IIT Madras study backs Pfizer's Indomethacin as a more effective anti-COVID drug than paracetamol

Pfizer posted adjusted earnings of $1.62 per share in the first quarter, on $25.66 billion in revenue. Analysts expected per-share earnings of $1.49 on about $24.1 billion in sales, according to FactSet.

Also read: Pfizer offers voluntary retirement scheme for field staff

Pfizer Inc, based in New York, also revised its 2022 earnings forecast to reflect an accounting policy change. It now expects adjusted earnings of $6.25-6.45 per share. That's down from its previous forecast for $6.35-6.55 per share.

Analysts forecast earnings of $7.14 per share. Shares ticked slightly higher before the opening bell on Thursday.

First Published:May 3, 2022 6:58 PM IST