US drugmaker Pfizer raised its forecast for sales of its 2021 vaccine against COVID-19 by 29% to $33.5 billion.
The company said it believed people would need a third dose of the vaccine it developed with its German partner BioNTech to maintain a high degree of protection against the virus.
Shares of the company rose more than 3% to $43.57 in afternoon trading on the Wall Street Stock Exchange.
Pfizer said it has shipped more than 1 billion doses of the vaccine since December.
The company expects full-year earnings to range from $3.95 to $4.05 per share, up from its previous forecast of $3.55 to $3.65 per share.