Pfizer is expected to reach $80 billion in sales in 2021, which would be its highest annual figure ever, according to CEO Albert Bourla, as reported by Reuters. Analysts expect revenues to hit $100 billion in 2022, driven by increased production of the oral antiviral treatment Paxlovid. The 173-year-old American pharmaceutical company projects sales of $36 billion for 2021 and an additional $29 billion in 2022 solely from the COVID-19 vaccine developed in partnership with Germany's BioNTech.
Expectations are also high for Paxlovid, which is being used in the United States and has been authorized in Canada, the UK, and Europe. Analysts have predicted sales of about $23 billion for this year. The purchase agreement in the U.S. alone—representing one-sixth of Pfizer's expected production of 120 million treatment courses of Paxlovid for 2022—exceeded $10 billion. Profits from the drug are anticipated to be substantial. Pfizer's shares have risen more than 50% in the past twelve months, outperforming the S&P 500, which gained 17% in the same timeframe. Before the pandemic, Pfizer's shares traded below $44 for several years.
