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Pfizer tops $100B in revenue in 2022, but expects dwindling COVID-19 vaccine sales

By Brian Buntz | January 31, 2023

PfizerNew York City–based Pfizer (NYSE:PFE) announced that its full-year 2022 revenues were $100.3 billion, a record for the company.

Pfizer has more than doubled its revenue compared to 2020 when it generated $42.9 billion in sales. In 2021, its revenue hit $81.3 billion.

But the company will likely have trouble sustaining that momentum, considering its revenues, excluding contributions from its COVID-19 products Paxlovid and Comirnaty, were up just 2% operationally.

In 2022, Paxlovid and Comirnaty drove close to $57 billion, almost 60% of the company’s revenue.

Pfizer anticipates that Comirnaty will generate approximately $13.5 billion in 2023 and Paxlovid another $8 billion in 2023. That would be a 64% and 58% reduction compared with the 2022 figures.

The company attributes part of the sales decline to ample U.S. government supply of the products.

The government plans to transition COVID-19 vaccines and other therapies to the private market in 2023.

Pfizer’s shares were mostly flat in mid-day trading, ticking up 0.034% to $43.57.

Its stock price was down about 15% in January.

Rival Moderna (Nasdaq:MRNA) has had its stock dip 2.66% in the same timeframe.

The company is also sharpening its focus on RSV. In November 2022, it announced its RSV vaccine candidate for maternal immunization was effective against infant death. The vaccine could become the first maternal vaccine to protect against infant RSV death.

It could also win FDA approval in older adults.

Pfizer has also acquired the RSV therapeutics firm ReViral for $525 million, which it expects will generate $1.5 billion in revenue.

The company is also launching a Phase 3 study for its influenza vaccine.

Pfizer also noted that it was removing eight programs from its pipeline, including the dwarfism candidate recifercept and two proposed Paxlovid indications.

The company plans to reinvigorate its pipeline to boost long-term revenue prospects.


Filed Under: Infectious Disease

 

About The Author

Brian Buntz

As the pharma and biotech editor at WTWH Media, Brian has almost two decades of experience in B2B media, with a focus on healthcare and technology. While he has long maintained a keen interest in AI, more recently Brian has made making data analysis a central focus, and is exploring tools ranging from NLP and clustering to predictive analytics.

Throughout his 18-year tenure, Brian has covered an array of life science topics, including clinical trials, medical devices, and drug discovery and development. Prior to WTWH, he held the title of content director at Informa, where he focused on topics such as connected devices, cybersecurity, AI and Industry 4.0. A dedicated decade at UBM saw Brian providing in-depth coverage of the medical device sector. Engage with Brian on LinkedIn or drop him an email at bbuntz@wtwhmedia.com.

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