How much money has Pfizer made from selling Covid jabs? Company shares latest results
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Pfizer, alongside Moderna and AstraZeneca, were the first biopharmaceutical companies to develop Covid vaccines. Together, they have provided protection from more than 90 percent of cases for hundreds of millions of people. The benefit comes full circle for each company thanks to international exports, and Pfizer has revealed just how much it has sold.
How much money has Pfizer made from selling Covid jabs?
Various governments have bought hundreds of millions of Pfizer-made vials since the jabs hit the market in early 2021.
As such, they have sunk significant capital into protecting their local populations.
And billions of dollars of cash has come straight back to Pfizer.
Company chiefs reported a total of $7.8 billion (£5.6 billion) in shots delivered during the second quarter of 2021.
Total revenue clocked in at nearly $19 billion, $18.98 billion overall.
The impressive results beat Wall Street experts’ expectations, who forecast total revenue of $18.74 billion.
Pfizer has responded by raising its 2021 vaccine sales forecasts.
Now, officials expect to sell $33.5 billion worth of vaccines this year, up from a previous prediction of $26 billion.
Much of the conjecture around projected costs come as health experts debate the necessity of a Covid “booster” shot.
The Delta variant has proven slippery with most vaccine candidates, as it appears able to bypass some of their best defences.
As such, scientists have suggested the need for a booster shot to “top up” immunity and fight Delta.
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Several companies including Pfizer have forged ahead and already created boosters of their own.
The company has found its booster “strongly” boosts protections against the dangerous variant.
Researchers disclosed the potential for a 100-fold increase in antibody levels among those aged 65 to 75.
However, Pfizer has not yet published the data or subjected it to peer review.
Should global health officials from the World Health Organisation (WHO) or ministries from individual countries decide they need these jabs, Pfizer stands to make even more money from sales.
However, experts haven’t made a final decision on whether the additional shot is necessary.
Dr Kate O’Brien, WHO’s immunisation director, said researchers haven’t compiled “enough information” to provide a concrete recommendation just yet.
In a video posted to the organisation’s social media channels, she added research needs to provide an “evidence-based recommendation.”
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