Corona doubles Pfizer’s revenues .. and a 50% jump is expected in 2022

Corona doubles Pfizer’s revenues .. and a 50% jump is expected in 2022

Pfizer expects significant growth in its revenues from Corona vaccines and medicines this year, by up to 50% on an annual basis, as the company indicated that it expects to achieve revenues from Covid-19 of $54 billion, of which $32 billion is from sales of Corona vaccines. And $22 billion in sales of drugs to treat corona, compared to achieving $36.8 billion in sales related to corona in 2021.

Expectations indicate that corona vaccines and drugs will account for more than 52% of the company's revenue this year, estimated at between $98 billion and $102 billion.

Pfizer's business results exceeded earnings estimates, but did not meet revenue trends, as the American pharmaceutical giant recorded $21.98 billion in net profits on revenues of $81.29 billion for 2021.

The Corona vaccine, or what is officially known as Comirnaty from the company's production, took 45% of Pfizer's revenue last year, dwarfing any other drug in the company's huge portfolio.

Pfizer, which developed the vaccine in cooperation with German biotech company Piontech, manufactured more than 3 billion doses of Moderna's vaccine last year, which ended up contributing $36.8 billion to the company's record revenue.

For 2022, Pfizer is currently forecasting $32 billion in sales of its COVID-19 vaccine, in addition to $22 billion in sales of its oral antiviral drug Paxlovid. Both estimates are based on supply contracts signed or committed, as of late January, which means the numbers can be adjusted upward throughout the year.

For his part, Pfizer CEO Albert Burla said:  In the early days of the Corona pandemic, we committed to using all the resources and expertise that were at our disposal to help protect the global population from this deadly virus, as well as offering treatments to help avoid the worst outcomes. 

Albert Burla added:  We put billions of dollars of capital on the line in pursuit of these goals, and we don't know if these investments will pay off. Now, less than two years since we made that commitment, we are proud to say that we have delivered the first FDA-approved vaccine against COVID-19, and the first FDA-approved oral treatment against the pandemic.

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