<p>Pfizer executives expressed measured optimism Tuesday over the prospect of providing a coronavirus vaccine in 2020 as the pharma giant reported lower third-quarter profits due to disruption in healthcare that dented drug demand.</p>.<p>Pfizer Chief Executive Albert Bourla said the drug giant could supply some 40 million doses in the United States in 2020 if clinical testing proceeds as expected and regulators approve a vaccine.</p>.<p>"If all goes well, we will be ready to distribute an initial number of doses," said Bourla, who pointed to a US government contract for Pfizer to supply 40 million doses by the end of this year and 100 million doses by March 2021.</p>.<p><strong><a href="https://www.deccanherald.com/coronavirus-live-news-covid-19-latest-updates.html">Follow DH's coverage of the Covid-19 pandemic here</a></strong></p>.<p>But Bourla said the company still had not reached key benchmarks in assessing vaccine efficacy. Pfizer has said previously that it could have the data in October.</p>.<p>Bourla said the company expects to file for emergency use authorization for its Covid-19 vaccine in the third week of November, roughly in line with earlier timetables.</p>.<p>Asked if he was "bullish" the vaccine would work, Bourla said: "I'm not bullish a vaccine will work. I'm cautiously optimistic that the vaccine will work."</p>.<p>Regarding earnings, Pfizer reported a 71 per cent drop in profit to $2.2 billion. The year-ago period included a large gain connected to a transaction.</p>.<p>Revenues dipped four per cent to $12.1 billion, missing analyst estimates.</p>.<p>Pfizer estimated a revenue hit of $500 million connected to Covid-19 due to lower pharma demand in China and fewer wellness visits from patients in the US.</p>.<p>The company saw an 11 per cent drop in its hospital business in emerging markets, primarily due to fewer elective surgeries in China and shorter in-patient hospital stays in the country.</p>.<p>This effect was partially offset by increased demand for the Prevnar-13 vaccine for pneumonia "resulting from greater vaccine awareness for respiratory illnesses," the company said.</p>.<p>Pfizer also cited strong performance in its biopharma business due to good sales for cancer drug Ibrance, anticoagulant Eliquis and other medications.</p>.<p>Shares edged up 0.1 per cent to $37.97 in afternoon trading.</p>
<p>Pfizer executives expressed measured optimism Tuesday over the prospect of providing a coronavirus vaccine in 2020 as the pharma giant reported lower third-quarter profits due to disruption in healthcare that dented drug demand.</p>.<p>Pfizer Chief Executive Albert Bourla said the drug giant could supply some 40 million doses in the United States in 2020 if clinical testing proceeds as expected and regulators approve a vaccine.</p>.<p>"If all goes well, we will be ready to distribute an initial number of doses," said Bourla, who pointed to a US government contract for Pfizer to supply 40 million doses by the end of this year and 100 million doses by March 2021.</p>.<p><strong><a href="https://www.deccanherald.com/coronavirus-live-news-covid-19-latest-updates.html">Follow DH's coverage of the Covid-19 pandemic here</a></strong></p>.<p>But Bourla said the company still had not reached key benchmarks in assessing vaccine efficacy. Pfizer has said previously that it could have the data in October.</p>.<p>Bourla said the company expects to file for emergency use authorization for its Covid-19 vaccine in the third week of November, roughly in line with earlier timetables.</p>.<p>Asked if he was "bullish" the vaccine would work, Bourla said: "I'm not bullish a vaccine will work. I'm cautiously optimistic that the vaccine will work."</p>.<p>Regarding earnings, Pfizer reported a 71 per cent drop in profit to $2.2 billion. The year-ago period included a large gain connected to a transaction.</p>.<p>Revenues dipped four per cent to $12.1 billion, missing analyst estimates.</p>.<p>Pfizer estimated a revenue hit of $500 million connected to Covid-19 due to lower pharma demand in China and fewer wellness visits from patients in the US.</p>.<p>The company saw an 11 per cent drop in its hospital business in emerging markets, primarily due to fewer elective surgeries in China and shorter in-patient hospital stays in the country.</p>.<p>This effect was partially offset by increased demand for the Prevnar-13 vaccine for pneumonia "resulting from greater vaccine awareness for respiratory illnesses," the company said.</p>.<p>Pfizer also cited strong performance in its biopharma business due to good sales for cancer drug Ibrance, anticoagulant Eliquis and other medications.</p>.<p>Shares edged up 0.1 per cent to $37.97 in afternoon trading.</p>