The Covid pandemic drives Pfizer’s 2022 revenue to a record $100 billion
The ongoing Covid-19 pandemic propelled pharmaceutical company Pfizer’s earnings to a record $100 billion last year, almost $57 billion of which was driven by its vaccine and antiviral pill Paxlovid, the company reported Tuesday.
The vaccine accounted for $37.8 billion, up just 3% from 2021, of Pfizer’s total sales as demand for the shots slowed. But sales of its blockbuster antiviral treatment made up for that softening, surging to $18.9 billion in 2022, the first full year that Paxlovid was on the market.
Pfizer’s combined sales from its Covid vaccine and antiviral treatment generated more revenue last year than it had in total sales in 2019, before the pandemic became a global crisis that killed more than 6.8 million people and upended world markets. Those results won’t be repeated this year.