Pharmaceutical giant Pfizer (PFE) projects that it will generate record-high revenues of $54 billion U.S. in 2022 due to robust sales of its COVID-19 vaccine and pill.
Pfizer has said that it expects to generate $32 billion U.S. this year from sales of its COVID-19 vaccine and $22 billion U.S. from its antiviral COVID-19 pill Paxlovid.
Pfizer reported earnings per share of $1.08 U.S. versus $0.87 U.S. that analysts had expected. The company’s revenue amounted to $23.84 billion U.S. versus $24.12 billion U.S. that was anticipated.
Pfizer said it started a clinical trial in January of a COVID-19 vaccine that targets the Omicron variant in adults ages 18 to 55 and expects to have the vaccine approved and ready to ship by March of this year.
Pfizer is also working with the U.S. Food and Drug Administration (FDA) to expedite authorization of a COVID-19 vaccine for children under age five.
And, the company said that ramping up production and delivery of its COVID-19 pill, Paxlovid, is a top focus for the year ahead. Pfizer expects to produce 120 million Paxlovid pills by the end of this year.
