Pfizer forecasts record-breaking earnings
US pharmaceutical company Pfizer has predicted that it will earn as much as $102 billion in revenue this year – the highest in the company's history – thanks to its Covid-19 vaccine, booster shots, and coronavirus treatment pill.
In an earnings release published on Tuesday, Pfizer estimated that it would earn between $98 billion and $102 billion in revenue this year. Pfizer expects to earn $32 billion in revenue from its Covid-19 vaccine alone, with another $22 billion of revenue from its Paxlovid antiviral Covid-19 pill.
“The midpoint of the guidance range for revenues represents 23% growth from 2021 revenues,” the company declared in the report.
Pfizer’s Covid-19 vaccine made the company nearly $37 billion in revenue in 2021, with the company earning a total of $81.3 billion – double the amount of revenue from 2020.
Following the release of the report, The Guardian branded Pfizer’s vaccine as “one of the most lucrative products in history.”
Pfizer CEO Dr. Albert Bourla boasted on Tuesday that the company’s pandemic “successes” had “fundamentally changed Pfizer and its culture forever.”
In his own statement, Pfizer CFO Frank D’Amelio said he was “proud to see that the company is performing better than at any other time during my nearly 15 years here.”
D’Amelio noted that, if achieved, Pfizer’s 2022 expectations “would represent the highest level of annual revenues” ever in the company’s “long history.”
“I have never been more confident in the future of Pfizer,” he concluded.
