US Drug Maker Pfizer Expects COVID Product Sales To Top $50 Billion This Year

New Delhi: The United States (US) drug maker has forecasted more than $50 billion in 2022 sales for its COVID-19 vaccine and therapeutic.

The prediction came after the pharmaceutical company reported a more than doubling of annual profits on strong sales of its inoculation.

Interestingly, Pfizer vaccine was the first one to be approved to counter the deadly virus. However, the company sees slightly lower 2022 revenues for the vaccine compared with the just-finished year.

However, according to a report by AFP, analysts have projected higher 2022 profits compared with the company's forecasts.

The company has reported annual profits of $22 billion, more than double the 2020 level. The company's annual revenues nearly doubled to $81.3 billion, with $36.8 billion from the Covid-19 vaccine.

For 2022, the company has projected revenues of between $98 and $102 billion.

Notably, Pfizer had projected just $15 billion in COVID-19 vaccine sales in 2021 a year ago; however, it ended up selling more than twice that amount after repeatedly lifting the forecast.

The report further said that for 2022, the company expects $32 billion in revenue from COVID-19 vaccines and $22 billion in revenues from Paxlovid.

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