Pfizer, a US pharmaceutical company, has announced that it expects to generate $54 billion in sales this year from COVID-19 vaccines and treatments.

Pfizer, in its earnings forecast announcement on the 8th (local time), predicted that the annual sales of the COVID-19 vaccine developed with Germany’s BioNtech would reach $32 billion (about 38.4 trillion won), AFP news agency reported.

This is an upward revision of the previous estimate by $1 billion, Reuters said. The market forecast compiled by Refinitiv, a financial information company, is $33.79 billion.

The company estimated that Paxrovid, an edible COVID-19 treatment, launched at the end of last year, will record sales of $22 billion (about 26.4 trillion won) this year. This is similar to the market forecast of $22.88 billion.

In addition, Pfizer expects to produce at least 120 million Pax Lovid this year. Expected production by the first half of this year is 30 million pieces.

Pfizer’s revenue last year was $81.3 billion (about 97.4 trillion won), almost doubling its sales in 2020. Among them, the sales of the COVID-19 vaccine reached $36.8 billion (about 44.1 trillion won), and the vaccine led the increase in sales.

Last year, Pfizer’s annual net income was $22 billion, more than double that of 2020.

Pfizer CEO Albert Bulla said in a statement, “It is unlikely that we will completely eradicate COVID-19 in the near future.” This will help us not only get through a pandemic well, but also move on to an endemic.”

“In other words, vaccines and treatments will help us get back to our daily lives and enjoy traveling, eating out and concerts,” he said.

Author: MI Asian Staff