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The COVID Pandemic Leads to Pfizer’s Record-Breaking Revenue of $100 Billion in 2022



The COVID Pandemic Leads to Pfizer's Record-Breaking Revenue of $100 Billion in 2022

(CTN News) – Last year, Pfizer’s earnings hit a record $100 billion thanks to the ongoing Covid-19 pandemic, with almost $57 billion driven by its Paxlovid antiviral pill and vaccine.

Pfizer sold $37.8 billion of its Covid vaccine last year

Pfizer sold $37.8 billion of vaccines, up just 3% from 2021, as demand slowed for shots. However, sales of Paxlovid, it’s blockbuster antiviral, jumped to $18.9 billion in 2022, its first full year on the market.

Pfizer’s sales from its Covid vaccine and antiviral treatment generated more revenue last year than in total sales in 2019 before the pandemic became a global crisis that killed more than 6.8 million people. This year won’t be like last year.

In 2023, Pfizer expects revenue to decline by 33% to between $67 billion and $71 billion as the world emerges from the pandemic.

From $37.8 billion in 2022, Covid vaccine sales will plummet by 64% to $13.5 billion this year. From $18.9 billion in 2022, Paxlovid sales are expected to drop 58% to $8 billion in 2023.

According to them, its full-year earnings per share will drop by 50%, to between $3.25 and $3.45, from a record $6.58 in 2022.

Analysts expected mostly good results from the company in the fourth quarter.

Pfizer’s CEO Albert Bourla laid out a 2030 growth plan last quarter. Among other drugs, Bourla sees future revenue growth from RSV vaccines and migraine medications.

Related CTN News:

India Launches the World’s First nasal COVID Vaccine

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