• April 22, 2024

Pfizer doubles its profits in 2021

The American pharmaceutical company, Pfizer, announced Tuesday, that its profits will double in 2021 to reach 22 billion dollars, primarily driven by sales of vaccines against Corona, and it is expected that its revenues from vaccines next year will reach 32 billion dollars.

The giant company said in a financial report that its annual revenues doubled to reach 81.3 billion dollars last year, including 36.8 billion from the vaccine against Corona, which it developed with the German Piontech, and it was the first vaccine to obtain a license for use in the face of Corona.
The company expected that the anti-Covid drug, Baxolvid, would generate revenues of $22 billion next year.

Pfizer CEO Albert Borla said in a statement that its scientists “continue to monitor Corona and believe that it is unlikely to eradicate it completely in the foreseeable future.”

“However, we now have tools, such as vaccines and treatments, that we believe will help us not only better manage the pandemic, but also help countries transition into an era of endemic disease,” he added.
Although Pfizer’s profits exceeded analysts’ expectations, its revenues were below them.
In the pre-market exchanges, the company’s share lost 4.1% of its value, to reach $51.02.


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