The North American pharmaceutical Pfizer announced on Tuesday a net profit of 31,371 million dollars (29,000 million euros) in 2022, 43% more than the previous year, mainly due to sales of its vaccine against Covid-19.
Last year, Pfizer’s revenues grew 23% to a record of 100,330 million dollars (92,596 million euros).
Excluding the income obtained from the sale of Cominarty, the trade name of the vaccine developed by Pfizer in partnership with the German BioNTech, and Paxlovid, an antiviral against the most serious cases of Covid, the increase in income would have been 2%.
By business units, the global division of biopharmaceuticals registered revenues of 98,988 million dollars (91,351 million euros), 24% more, highlighting the 73,023 million dollars (67,283 million euros) contributed by the primary care area, an increase of 40%.
In the fourth quarter of 2022, Pfizer’s revenues amounted to $24.29 billion, of which almost half came from the sale of the Comirnaty Covid-19 vaccine and $1.8 billion from the drug Paxlovid.
Quoted in a statement, the president and chief executive officer (CEO) of Pfizer, Albert Bourla, highlights that 2022 was a record year for the company, not only in terms of revenue and earnings per share, which were the highest in its history, but also, “most importantly”, by the percentage of patients who have a positive perception of the pharmaceutical company and the work it does.
By 2023, Pfizer forecasts a drop in revenue due to the decline in sales of vaccines and medicines against Covid-19, estimating that they will be between 67,000 and 71,000 million dollars (61,729 and 65,414 million euros), which would mean a drop of between 33% and 29% compared to more than 100,000 million dollars in 2022.
Even so, the CEO says he is confident in Pfizer’s potential to continue launching new products and developing others to ensure that the multinational has continuous and solid growth “in this decade and beyond.”
Source: TSF
