Pfizer Inc expects to generate $15 billion from the sales of its COVID-19 vaccine co-developed with German partner BioNTech. The company forecast its 2021 sales anywhere between $59.4 billion and $61.4 billion, and the vaccine would contribute nearly a quarter of this total revenue for the year.

As per Reuters, the durgmaker is striving to deliver two billion doses of the vaccine in 2021 at a breakneck pace as countries rush to sign supply deals in an effort to control the coronavirus pandemic.

The company forecasts that the revenue could go higher if the company signs more supply contracts.

"2021 earnings and sales will see a significant benefit from the vaccine, and this benefit could increase throughout the year," said Edward Jones analyst Ashtyn Evans.

The supply of the vaccine has faced some delays in parts of Europe due to changes in manufacturing processes in order to boost production. However, BioNTech said on Monday that the companies were back on track to meet their European timeline.

According to Pfizer, it has already supplied 65 million doses globally and 29 million doses in the US as of Jan 31. The company expects to supply 200 million doses to the US government by the end of May.