US pharmaceutical giant Pfizer expects the coronavirus vaccine it developed with BioNTech, the first to be authorized for emergency use in the West, to make it about $15 billion in revenues in 2021.

The company expects to produce up to 2 billion doses of the vaccine in 2021, based on its updated six-dose label, it said Tuesday. By January 31, it had already supplied 65 million doses of its vaccine globally, with close to half going to the US.

This 2 billion primarily included doses expected to be delivered under existing contracts, and could be higher if new contracts are added, it said.

Pfizer posted fourth-quarter revenues of $11.7 billion, up 12% year-over-year, including $154 million in sales of its coronavirus vaccine.

Its full-year revenues rose 2% to $41.9 billion.

The company forecasted revenues of between $59.4 and $61.4 billion for 2021. Most of this roughly 44% year-on-year growth would be generated through the additional $15 billion in revenues from its coronavirus vaccine, it said.

Adjusted income before tax margin for the vaccine would likely be just shy of 30%, it added.

The past year saw “the culmination of Pfizer’s decade-long conversion into a pure-play, science, and innovation-focused company,” CEO Dr. Albert Bourla said on Tuesday, calling it “a transformational year” for both Pfizer and the world.

“Our record-breaking success at developing a vaccine against Covid-19, along with our partner BioNTech, is just one example of what we believe this new Pfizer is capable of achieving,” he added.