Pfizer - the American pharmaceutical company behind one of the Covid jabs - has announced better than expected profits.

In a revised forecast, the company says it expects to make £26.5 billion from the shot, up from the £11 billion predicted at the beginning of the year.

The company says it is on target this year to deliver 2.3 billion doses of the drug which was developed in partnership with German company Biontech.

The news comes on the day US health officials signed off on the delivery of the jab to children as young as five in the United States.

The Covid vaccine generated £9.5billion in sales in the third quarter of 2021. Company predictions for revenues for the whole year are now put at up to £60billion.