NextGen Day

According to a financial results statement Pfizer released on Thursday, sales of the vaccines and the Covid-19 antiviral therapy Paxlovid helped the company generate record revenue in the second quarter of 2022.

The pharmaceutical business, based in the US, made USD 8.1 billion from its Paxlovid oral drug and USD 8.8 billion from its Covid-19 vaccination.

As a result, the company’s total sales for the second quarter increased to USD27.7 billion, up 46.5 percent from USD18.9 billion during the same period the previous year.

Over that time, net income increased by over 80%, from USD 5.5 billion to USD 9.9 billion.

1.2 billion people in 45 lower-income countries worldwide will now be able to purchase the company’s patented medications and vaccines at non-profit pricing, according to Chairman and CEO Albert Bourla.

The business reiterated its USD 32 billion overall revenue forecast for sales of the Covid-19 vaccine and USD 22 billion forecasts for Paxlovid in 2022.

On June 29, Pfizer and its German business partner BioNTech revealed plans to pay USD3.2 billion to supply the US government with 105 million doses of vaccine.

The agreement may include an adult omicron-adapted Covid-19 vaccine, subject to approval from the Food and Drug Administration, though the US government also has the option to buy up to 195 million extra doses.

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