Pfizer reports bumper revenue from 2021 COVID-19 vaccine sales, but 2022 forecasts are disappointing


Pfizer’s COVID-19 vaccine generated nearly $ 37 billion in sales for the first full year of the 2021 product, but Pfizer’s revenue forecast for 2022 fell below analysts’ expectations, reducing its market share by more than 5%. I did.

Pfizer said in its latest quarterly earnings report released on February 8 that the company’s double-dose COVID-19 vaccine, called Comirnaty, generated $ 36.78 billion in 2021.pdf).

Overall, Pfizer’s full-year 2021 revenue was $ 81.3 billion, an increase of 92% from 2020. Revenues increased by a much more modest 6% over the year, with the exception of contributions from Comirnaty and Pfizer’s COVID-19 antiviral drug Paxlovid. To $ 44.4 billion.

“We have just finished a year of providing great value to society, including both patients and shareholders,” Pfizer Chief Financial Officer Frank D’Amelio said in a statement. “In 2021, we exceeded our goal of producing 3 billion Comirnaties,” D’Amelio added, calling it “a monumental and unprecedented achievement.”

Epoch Times Photo
Vials of Pfizer and BioNTech’s COVID-19 vaccine will be found in France on 27 November 2021. (Jeff Pachoud / AFP via Getty Images)

Global Justice Now, a UK-based advocate, has had a critical impact on Pfizer’s vaccine sales, noting that $ 37 is about seven times the underfunding of the Covax program, a global dose-sharing initiative. Did.

“Major pharmaceutical companies are making enough money from this crisis. It’s time to suspend patents and break the vaccine monopoly,” he said. I wrote in a tweet.

The Covax program, backed by the World Health Organization and the Gavi Vaccine Alliance, says it needs about $ 5.2 billion to support the global rollout of the COVID-19 vaccine this year.

Gavi CEO Seth Berkley said Told the Financial Times In January, Covax couldn’t accept any more donations of vaccine doses, basically running out of money to buy accessories such as syringes.

“It doesn’t mean we’ve spent all of the money we’ve earned, but we need to hold a lot of money to pay the doses we promised,” Berkeley told the outlets.

Meanwhile, Comirnaty’s fourth-quarter revenue was $ 12.5 billion, and Pfizer doubled its quarterly revenue to $ 23.8 billion compared to the final quarter of 2020.

Paxlovid, approved in December, brought $ 76 million in the final quarter.

Without the contribution of selling vaccines and antivirals, Pfizer’s revenue would have declined by 2% in the fourth quarter.

Pfizer reported a fourth-quarter adjusted earnings of $ 1.08 per diluted share. That’s more than double the $ 0.43 reported by pharmaceutical companies a year ago, well above the consensus forecast of $ 0.87.

Forward guidance

The company forecasts total sales of $ 98 billion to $ 102 billion in 2022, below analysts’ estimates of $ 105.48 billion. Without Comirnaty and Paxlovid sales, Pfizer expects sales to grow from $ 45 billion to $ 47 billion this year, D’Amelio said in a prepared statement.pdf).

Pfizer predicts annual sales of the COVID-19 vaccine of $ 32 billion. This is in short supply compared to Wall Street’s forecast of $ 33.79 billion.

D’Amelio said it is unlikely that there will be an upward surprise in vaccine revenues in 2022.

“We cannot predict what will be needed due to Omicron and other variants, but the benefits of this guidance throughout the year compared to the situation facing the new availability of vaccines in 2021. Also note that few people have been vaccinated. “pdf).

Pfizer forecasts 2022 PaxRovid sales of $ 22 billion, compared to analysts’ forecast of $ 22.88 billion.

“Unlike the Comirnaty situation, Paxlovid’s demand should rise from these levels, depending on the situation.
Results of discussions with specific governments and potential purchases for stockpiles
A pandemic of the future coronavirus, “said D’Amelio.

According to D’Amelio, Pfizer plans to produce a total of 4 billion COVID-19 vaccines in 2022.

By 10:55 am New York time, Pfizer will share shares Was down $ 3.03, or 5.59 percent, $ 50.18.

Tom Ojimek

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Tom Ozimek has a broad background in journalism, deposit insurance, marketing and communication, and adult education. The best writing advice he has ever heard is from Roy Peter Clarke.



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