Pfizer’s COVID-19 vaccine and drug sale to top $50 billion in 2022

Pfizer, a pharmaceutical business, has reported a more than doubled annual profit due to vaccination sales in 2021, with the company projecting a profit of more than $50 billion in 2022 for its Covid-19 vaccine and treatment.

Pfizer, whose vaccine produced with BioNTech was the first to be approved in the United States to combat the deadly covid-19 virus, expects somewhat lower vaccine revenues in 2022 than in the previous year.

However, Paxlovid, the business’s tablet for Covid-19, is expected to generate a significant amount of income, according to the company.

Pfizer

Pfizer’s actions in the pandemic “have profoundly changed our firm forever,” according to Chief Executive Albert Bourla, who called 2021 a “watershed year” for the company.

Apart from vaccines, Pfizer’s other divisions saw varied results. Internal medicine and inflammation and immunology saw a drop in revenue, whereas oncology, hospitals, and uncommon disease saw an increase.

Pfizer’s annual profits were $22 billion, more than double what they were in 2020. Annual revenue nearly doubled to $81.3 billion, with the Covid-19 vaccination accounting for $36.8 billion.

Pfizer anticipates $32 billion in income from Covid-19 vaccines and $22 billion from Paxlovid in 2022.

The figures demonstrate how covid has altered Pfizer, which had forecasted only $15 billion in Covid-19 vaccine sales in 2021 a year ago and ended up selling more.

According to Bourla, the company is developing a new vaccine candidate based on the Omicron form of Covid-19, as well as a “possible next-generation oral Covid-19 treatment.”

Pfizer aims to create 120 million Paxlovid treatment courses, with six million in the first quarter and 30 million in the first half of 2022, according to the company.

Around 100 countries have already agreed to buy Paxlovid, according to the business. Around 40 countries have approved the treatment thus far.

Paxlovid sales, according to Bourla, “might be substantially bigger” than current projections. According to him, the $22 billion estimate for 2022 is based on signed contracts and conversations where there is virtually an agreement.

“We continue to watch the Covid-19 virus,” Bourla added, “and believe it is unlikely that it will be entirely eradicated in the foreseeable future.”

“That said, we now have the tools — vaccines and treatments — that we believe will help us not just better manage the pandemic but also help countries transition into the endemic phase,” he said.

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