According to a report by Reuters, Pfizer anticipates $32 billion in sales from COVID-19 vaccines in 2022, while yearly earnings more than quadrupled to $22 billion.
The pharmaceutical firm, which earned clearance for the first vaccine against the fatal virus alongside German company BioNTech, saw yearly revenues nearly quadruple to $81.3 billion, with the COVID-19 vaccine accounting for $36.8 billion of that total.
In addition, Pfizer anticipates $22 billion in sales of Paxlovid, the company’s COVID-19 tablet, in 2022. The findings are the latest evidence of how the coronavirus has altered Pfizer, which had expected only $15 billion in COVID-19 vaccine sales in 2021 a year ago and ended up selling more than double that amount after continually raising the projection.
Pfizer scientists “continue to monitor the COVID-19 virus and believe it is unlikely that it will be fully eradicated in the foreseeable future,” said CEO Albert Bourla in a statement.
“That said, we now have the tools — in the forms of vaccines and treatments — that we believe will help enable us to not only better manage the pandemic but also help countries move into the endemic phase,” Bourla added. Despite exceeding analyst projections for earnings per share, Pfizer’s revenue fell short. In pre-market trade, shares dropped 4.1 percent to $51.02.