Pfizer’s 2021 sales are expected to top $80 billion
Pfizer’s 2021 sales are expected to top $80 billion – its highest ever annual figure, according to Chief Executive Albert Bourla. Analysts expect revenue to top $100 billion in 2022 as production of Pfizer’s oral antiviral treatment Paxlovid picks up.
The 173-year-old U.S. drugmaker expects 2021 sales of $36 billion and another $29 billion in 2022 just for its COVID-19 vaccine developed with Germany’s BioNTech SE .
Expectations are also high for Paxlovid, which is being used in the United States and has been authorized in Canada, UK and Europe.
Analysts on average have forecast sales of nearly $23 billion this year. The U.S. purchase contract alone – for just one sixth of Pfizer’s expected 2022 production of 120 million Paxlovid courses – topped $10 billion.
In 2021, Pfizer bought Arena Pharmaceuticals Inc (ARNA.O) for $6.7 billion in cash and cancer drug developer Trillium Therapeutics for $2.3 billion.
Pfizer’s shares have risen over 50% in the past 12 months, outperforming the 17% gain for the S&P 500 index (.SPX) in the same time period. Prior to the pandemic, Pfizer’s shares traded in a range below $44 for several years.
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