Pfizer predicts that revenue from the COVID-19 vaccine it developed with BioNTech will now reach $ 36 billion this year, up 7.5% from its previous estimate of $ 33.5 billion.
Why is this important: The vaccine quickly became the best-selling drug in the world, but public health experts and world leaders remain concerned about the uneven distribution of the vaccine that has left poorer countries with far fewer doses to administer.
In numbers : Pfizer recorded $ 13 billion in actual sales of COVID-19 in the third quarter, bringing sales so far in 2021 to $ 24.3 billion.
- Pfizer said its profit margin on the vaccine, before tax and after profit sharing with BioNTech, is the “highest of 20,” meaning that vaccine profits could approach $ 10 billion just for Pfizer this time. year.
- Pfizer expects the vaccine to generate an additional $ 29 billion in sales in 2022, and that’s on the basis of 1.7 billion doses committed in purchase contracts alone.
- Pfizer has said it will manufacture up to 4 billion doses next year, which means it could still sell 2.3 billion doses.
The bottom line: The Pfizer-BioNTech vaccine is extremely effective and has saved millions of lives. It has also become one of the biggest money generators in pharmaceutical history.