PANDEMIC CAPITALI$M
WINNERS AND LOSERS
Pfizer expects to sell $54 billion worth of COVID-19 shots, treatment pills in 2022
For all of 2021, Pfizer said it made $81.3 billion in revenue -- about twice its figure from 2020. File Photo by Debbie Hill/UPI | License Photo
Feb. 8 (UPI) -- Pharma company Pfizer said on Tuesday that it expects to generate more than $50 billion in revenues this year from its COVID-19 vaccine and antiviral treatment pill.
The company reported its 2022 forecast in its quarterly earnings report, which showed that Pfizer made almost $24 billion in revenue in the final quarter of 2021. About half of that came from sales of its COVID-19 vaccine and $76 million from sales of its antiviral treatment Paxlovid, which was the first COVID-19 treatment pill authorized in the United States.
Pfizer's fourth-quarter earnings were mixed -- beating expectations for earnings per share but slightly missing projections for revenue.
Pfizer is presently seeking regulatory approval for a smaller dose of its COVID-19 vaccine specifically for children under 5, which is the last group of people in the U.S. that's not yet eligible to be vaccinated. File Photo by Debbie Hill/UPI
For all of 2021, Pfizer said it made $81.3 billion in revenue -- about twice its figure from 2020. Fourth-quarter earnings increased by more than double compared to 2020.
For all of 2021, Pfizer said it made $81.3 billion in revenue -- about twice its figure from 2020. File Photo by Debbie Hill/UPI | License Photo
Feb. 8 (UPI) -- Pharma company Pfizer said on Tuesday that it expects to generate more than $50 billion in revenues this year from its COVID-19 vaccine and antiviral treatment pill.
The company reported its 2022 forecast in its quarterly earnings report, which showed that Pfizer made almost $24 billion in revenue in the final quarter of 2021. About half of that came from sales of its COVID-19 vaccine and $76 million from sales of its antiviral treatment Paxlovid, which was the first COVID-19 treatment pill authorized in the United States.
Pfizer's fourth-quarter earnings were mixed -- beating expectations for earnings per share but slightly missing projections for revenue.
Pfizer is presently seeking regulatory approval for a smaller dose of its COVID-19 vaccine specifically for children under 5, which is the last group of people in the U.S. that's not yet eligible to be vaccinated. File Photo by Debbie Hill/UPI
For all of 2021, Pfizer said it made $81.3 billion in revenue -- about twice its figure from 2020. Fourth-quarter earnings increased by more than double compared to 2020.
For 2022, Pfizer said it expects to sell $32 billion worth of its COVID-19 vaccine, known as Comirnaty, and $22 billion worth of Paxlovid.
"In the early days of the COVID-19 pandemic, we committed to using all of the resources and expertise we had at our disposal to help protect populations globally against this deadly virus," Pfizer CEO Albert Bourla said in a statement.
"Now, less than two years since we made that commitment, we are proud to say that we have delivered both the first FDA-authorized vaccine against COVID-19 (with our partner, BioNTech) and the first FDA-authorized oral treatment for COVID-19."
Pfizer announced last month that it had begun a study to test a new COVID-19 vaccine geared specifically to fight the Omicron coronavirus variant. It's also developing a smaller dose of its regular COVID-19 vaccine for children under the age of 5.
"In the early days of the COVID-19 pandemic, we committed to using all of the resources and expertise we had at our disposal to help protect populations globally against this deadly virus," Pfizer CEO Albert Bourla said in a statement.
"Now, less than two years since we made that commitment, we are proud to say that we have delivered both the first FDA-authorized vaccine against COVID-19 (with our partner, BioNTech) and the first FDA-authorized oral treatment for COVID-19."
Pfizer announced last month that it had begun a study to test a new COVID-19 vaccine geared specifically to fight the Omicron coronavirus variant. It's also developing a smaller dose of its regular COVID-19 vaccine for children under the age of 5.
Pfizer reported annual profits in 2021 more than doubled to $22 billion on strong sales of Covid-19 vaccines
February 9, 2022 -
Pfizer reported annual profits in 2021 more than doubled to $22 billion on strong sales of Covid-19 vaccines
Johnson & Johnson temporarily halted output of its Covid-19 vaccine at the only plant capable of commercial production, according to a report
Pfizer forecast more than $50 billion in 2022 sales for its Covid-19 vaccine and therapeutic on Tuesday as the pharmaceutical giant reported a more than doubling of annual profits on strong sales of its innoculation.
Pfizer, whose vaccinee developed with German company BioNTech was the first approved in the United States to counter the deadly virus, sees slightly lower 2022 revenues for the vaccine compared with the just-finished year, but a big infusion of revenues from Paxlovid, the company's pill for Covid-19.
Still, shares fell Tuesday following the results, which lagged estimates in terms of fourth-quarter revenues.
Analysts have also projected higher 2022 profits compared with the company's forecasts.
Pfizer reported annual profits of $22 billion, more than double the 2020 level. Annual revenues nearly doubled to $81.3 billion, with $36.8 billion from the Covid-19 vaccine.
The results are the latest to show how the coronavirus has transformed Pfizer, which a year ago had projected just $15 billion in Covid-19 vaccines sales in 2021 and ended up selling more than twice that amount after repeatedly lifting the forecast.
Bourla said the company is currently working on a new vaccine candidate based on the Omicron variant of Covid-19, as well as a new "potential next-generation oral Covid-19 treatment."
Pfizer executives described heavy interest in Paxlovid, with ongoing contract talks with about 100 governments around the world. The treatment has so far been approved in about 40 countries.
However, Chief Financial Officer Frank D'Amelio cautioned that there was "less potential upside" to 2022 estimates for Covid-19 vaccine revenues, compared with 2021 "when the vaccine was newly available and few people had received any doses of the vaccine."
"We expect increased near-term utilization of Covid vaccines will reduce the demand for these vaccines and treatments over the long term," Conover said in a note. "We view Pfizer as slightly overvalued, with the market likely extrapolating strong Covid vaccine and treatment sales too far into the future."
"That said, we now have the tools -- in the forms of vaccines and treatments -- that we believe will help enable us to not only better manage the pandemic but also help countries move into the endemic phase," he said.
jmb/st
Pfizer, whose vaccinee developed with German company BioNTech was the first approved in the United States to counter the deadly virus, sees slightly lower 2022 revenues for the vaccine compared with the just-finished year, but a big infusion of revenues from Paxlovid, the company's pill for Covid-19.
Still, shares fell Tuesday following the results, which lagged estimates in terms of fourth-quarter revenues.
Analysts have also projected higher 2022 profits compared with the company's forecasts.
Pfizer reported annual profits of $22 billion, more than double the 2020 level. Annual revenues nearly doubled to $81.3 billion, with $36.8 billion from the Covid-19 vaccine.
The results are the latest to show how the coronavirus has transformed Pfizer, which a year ago had projected just $15 billion in Covid-19 vaccines sales in 2021 and ended up selling more than twice that amount after repeatedly lifting the forecast.
Bourla said the company is currently working on a new vaccine candidate based on the Omicron variant of Covid-19, as well as a new "potential next-generation oral Covid-19 treatment."
Pfizer executives described heavy interest in Paxlovid, with ongoing contract talks with about 100 governments around the world. The treatment has so far been approved in about 40 countries.
However, Chief Financial Officer Frank D'Amelio cautioned that there was "less potential upside" to 2022 estimates for Covid-19 vaccine revenues, compared with 2021 "when the vaccine was newly available and few people had received any doses of the vaccine."
"We expect increased near-term utilization of Covid vaccines will reduce the demand for these vaccines and treatments over the long term," Conover said in a note. "We view Pfizer as slightly overvalued, with the market likely extrapolating strong Covid vaccine and treatment sales too far into the future."
"That said, we now have the tools -- in the forms of vaccines and treatments -- that we believe will help enable us to not only better manage the pandemic but also help countries move into the endemic phase," he said.
jmb/st
THE FAILURE OF CAPITALI$T PRODUCTION
Johnson & Johnson temporarily halts Covid-19 vaccine output: reportJohnson & Johnson temporarily halted output of its Covid-19 vaccine at the only plant capable of commercial production, according to a report
(AFP/JUSTIN TALLIS) (JUSTIN TALLIS)
Tue, February 8, 2022,
Johnson & Johnson has temporarily suspended production at a key plant manufacturing the Covid-19 vaccine, the New York Times reported Tuesday.
The facility in the Dutch city of Leiden halted output late last year, according to the report, which cited people familiar with the decision.
J&J, without confirming or denying the report, said it has continued to fulfill delivery commitments, a company spokesman said.
The factory, which is currently making an experimental vaccine, is expected to resume production of the Covid-19 vaccine again in a "few" months, the Times reported.
J&J currently has "millions of doses of our Covid-19 vaccine in inventory," according to the J&J spokesman.
"We continue to fulfill our contractual obligations in relation to the Covax facility and the African Union," the company spokesman said.
J&J has projected sales of $3 billion to $3.5 billion in 2022 for its Covid-19 vaccine, much less than the $32 billion forecast by Pfizer for the same period.
But the J&J vaccine has been sought after in developing countries because, unlike other options, it does not require transportation at very cold temperatures. Also, the vaccine was originally billed as a single-shot inoculation.
Additional plants are being outfitted to make the vaccine, but production is not expected until late spring, the Times said.
jum-jmb/md
Tue, February 8, 2022,
Johnson & Johnson has temporarily suspended production at a key plant manufacturing the Covid-19 vaccine, the New York Times reported Tuesday.
The facility in the Dutch city of Leiden halted output late last year, according to the report, which cited people familiar with the decision.
J&J, without confirming or denying the report, said it has continued to fulfill delivery commitments, a company spokesman said.
The factory, which is currently making an experimental vaccine, is expected to resume production of the Covid-19 vaccine again in a "few" months, the Times reported.
J&J currently has "millions of doses of our Covid-19 vaccine in inventory," according to the J&J spokesman.
"We continue to fulfill our contractual obligations in relation to the Covax facility and the African Union," the company spokesman said.
J&J has projected sales of $3 billion to $3.5 billion in 2022 for its Covid-19 vaccine, much less than the $32 billion forecast by Pfizer for the same period.
But the J&J vaccine has been sought after in developing countries because, unlike other options, it does not require transportation at very cold temperatures. Also, the vaccine was originally billed as a single-shot inoculation.
Additional plants are being outfitted to make the vaccine, but production is not expected until late spring, the Times said.
jum-jmb/md
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