Pfizer Heading For Record Profit From COVID-19 Vaccine

U.S. pharmaceutical giant,  Pfizer on Tuesday, said that the company had exceeded its goal of manufacturing 3 billion doses of Comirnaty, the Pfizer-BioNTech COVID-19 vaccine, in 2021 and was heading towards a record profit.

The company also increased its 2022 revenue guidance for Comirnaty, reflecting doses expected to be delivered under supply contracts signed as of late January.

Also, the company issued fiscal guidance for the coming year which, if achieved, would represent the highest level of annual revenues in its history.

Pfizer also issued its long-term expectations for COVID-19.

The company said the virus can  mutate often, making it difficult to stay ahead of it.

According to pfizer, people can become reinfected by the same or different strains over time, the company noted.

“Our scientists continue to monitor the SARS-CoV-2 virus and believe it is unlikely to be fully eradicated in the foreseeable future,’’Pfizer stated.

However, fourth-quarter adjusted profit per share for Pfizer was 1.08 dollars, compared to 0.43 dollars in the year prior on the bounce revenue from the COVID-19 vaccine.

Adjusted income was 6.24 billion dollars compared to 2.43 billion dollars the year before.

While the net profit was 3.39 billion dollars or 0.59  dollars per share compared to 847 million dollars  or 0.15 dollars per share in the same period of 2020.

The fourth-quarter revenues were 23.8 billion dollars, an increase of 105 per cent from a year ago, reflecting operational growth of 106 per cent.

Comirnaty contributed 12.5 billion dollars  in direct sales and alliance revenues during the quarter. (dpa/NAN)

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