Pfizer's Revenue Soared 94.03% in 2021

Currently, COVID-19 vaccines are one of the most sought-after commodities globally. This has significantly increased the profits of COVID-19 vaccine manufacturers, including Pfizer.

This American pharmaceutical giant recorded revenue of US$81.3 billion in 2021. This figure is 94.03% higher than the previous year's revenue of US$41.9 billion.

Pfizer, in collaboration with German biotechnology company BioNTech, developed the COVID-19 vaccine and produced over 3 billion doses of the mRNA vaccine throughout 2021. Sales of this vaccine contributed US$36.8 billion to the company's revenue.

For 2022, Pfizer projects revenue of US$32 billion from COVID-19 vaccine sales and an additional US$22 billion from sales of the oral antiviral COVID-19 drug Paxlovid. This projection is based on supply contracts signed by Pfizer at the end of January.

Besides COVID-19 vaccines and Paxlovid, Pfizer also sells healthcare products for cancer treatment, various other types of vaccines, and internal medicine drugs such as Eliquis for preventing blood clots and stroke.

(Read More: Global COVID-19 Vaccine Stock Dominated by AstraZeneca)