Fri 29 July 2022:
Sales of the COVID-19 antiviral medication Paxlovid and vaccines, according to Pfizer’s financial results statement released on Thursday, helped the company set a record for revenue in the second quarter of 2022.
The pharmaceutical firm, based in the US, made $8.8 billion from its COVID-19 vaccinations and $8.1 billion from Paxlovid, an oral drug.
The company’s total sales increased to $27.7 billion in the second quarter from $18.9 billion in the corresponding quarter previous year, a 46.5 percent increase.
Net income jumped approximately 80% to $9.9 billion, from $5.5 billion, during that period.
Chairman and CEO Albert Bourla said the company launched an initiative to bring its patented medicines and vaccines to 1.2 billion people living in 45 lower-income countries around the world at not-for-profit prices.
The company reaffirmed its 2022 total revenue expectations for its COVID-19 vaccine sales at $32 billion and $22 billion for Paxlovid.
Pfizer and its German partner BioNTech announced on June 29 to provide the US government with 105 million doses of vaccine for $3.2 billion.
While the US government has the option to purchase up to 195 million additional doses, the agreement may include adult omicron-adapted COVID-19 vaccine, which is subject to FDA approval.
SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES
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