2021 revenues were originally placed at $26 bn for sales of the Covid-19 vaccine, but now Pfizer has increased its evaluation by $7.5 bn. The new prediction for the BioNTech-partnered vaccine being $33.5 bn makes this one of the most profitable pharmaceutical products to ever exist.
Pfizer’s earnings report from the second quarter show its potential based on contracts the company has signed during mid-July, suggesting Pfizer and BioNTech will make 3 bn and deliver 2.1 bn doses of Comirnaty. According to Bernstein analyst Ronny Gal, Pfizer's total COVID-19 vaccine success still has the potential to make an extra $10 bn.
“The second quarter was remarkable in a number of ways. Most visibly, the speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19“
The vaccine generated $7.8 billion in second-quarter sales, revenue augmented to $18.98 billion, 92% more than the previous year’s $9.86. However, Pfizer's revenues increased by 10% during the same time period, disregarding any vaccine sales. The CEO predicted that 4 bn vaccine doses is Pfizer's 2022 production capacity.
There’s been significant growth across the pharma business for drug maker’s. Other examples of sales surges have been in Vyndagel and Vyndamax for heart failure drugs, posting increases of 77%. Eliquis recorded a 13% rise as a result of adoption in nonvalvular atrial fibrillation. Pneumococcal vaccine, Prevnar 13, went up 34% in the second quarter of last year at the time when pandemic restrictions limited physical appointments.
Ronny Gal wrote that "The numbers are going to be much higher. The guidance of $33.5B reflects contracts signed to today which reflect total commitment to sell 2.1 million doses (at average price of $15.95). Pfizer notes they expect to manufacture 3 million doses. Presumably much of those will be sold as well, albeit at lower average price as consumption shifts to emerging markets. This is probably another $10 billion."
Pfizer CEO Albert Bourla explained “The second quarter was remarkable in a number of ways. Most visibly, the speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19 have been unprecedented, with now more than a billion doses of BNT162b2 having been delivered globally.”See all the latest jobs in Pharmaceutical