The Covid Pandemic Drives Pfizer's 2022 Revenue to a Record $100 Billion
Source: CNBC
Pfizer sold $37.8 billion of its Covid vaccine last year, a small increase of 3% compared with 2021 as demand for the shots slowed. Sales of Paxlovid, however, surged to $18.9 billion in 2022, which was the first full year the antiviral pill was available. Pfizer expects its revenue to decline in 2023 by as much as 33% to a range of $67 billion to $71 billion as the world emerges from the pandemic and demand for its blockbuster Covid drugs slows.
The ongoing Covid-19 pandemic propelled pharmaceutical company Pfizer’s earnings to a record $100 billion last year, almost $57 billion of which was driven by its vaccine and antiviral pill Paxlovid, the company reported Tuesday.
The vaccine accounted for $37.8 billion, up just 3% from 2021, of Pfizer’s total sales as demand for the shots slowed. But sales of its blockbuster antiviral treatment made up for that softening, surging to $18.9 billion in 2022, the first full year that Paxlovid was on the market.
Pfizer’s combined sales from its Covid vaccine and antiviral treatment generated more revenue last year than it had in total sales in 2019, before the pandemic became a global crisis that killed more than 6.8 million people and upended world markets. Those results won’t be repeated this year...
Read more: https://www.cnbc.com/2023/01/31/the-covid-pandemic-drives-pfizers-2022-revenue-to-a-record-100-billion.html
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