In the current year, the New York pharmaceutical giant will extend its lead.
(Photo: dpa)
Frankfurt, After a one-year break, the US pharmaceutical company Pfizer is back as the world’s leading drug manufacturer with strong sales and a jump in profits. Thanks to the huge business with the corona vaccine researched by Mainz-based Biontech, Pfizer increased its sales last year by 90 percent to around $81.3 billion and net profit to $22 billion.
In the current year, the New York pharmaceutical giant will extend its lead. Company boss Albert Bourla announced on Tuesday for 2022 a further increase in revenues to 98 to 102 billion dollars and adjusted net income of more than 36 billion dollars. This is by far the highest profit a pharmaceutical company has ever made.
Meanwhile, both sales figures for 2021 and the growth forecast for 2022 fell short of analysts’ even higher expectations, which is why Pfizer shares came under pressure in premarket trading on Tuesday. The Biontech share also fell by around three percent by the early afternoon.
In addition to vaccine sales of an expected $32 billion based on existing supply contracts, the new Covid drug Paxlovid, with expected sales of $22 billion, will contribute to Pfizer’s business in the current year. Pfizer will thus account for a total of around ten percent of the global pharmaceutical business and achieve around two-thirds more sales than the number two in the industry, the US group Abbvie.
Top jobs of the day
Find the best jobs now and
be notified by email.
Pfizer has raised its sales forecast for the corona vaccine Comirnaty by one billion dollars compared to previous estimates. This means that the Mainz-based Biontech should also have a higher outlook for 2022. So far, the biotech company has announced sales of 13 to 17 billion euros for the current year. The two partners share revenue from the vaccines business, while Pfizer takes the lion’s share of sales.
More: Despite double-digit billion sales: Uncertainty among corona vaccine manufacturers is growing