The impact of Pfizer’s COVID-19 vaccine on the company’s 2021 sales: Pfizer reported a net profit of $5.56 billion on revenue of $18.98 billion for the Q2 of 2021.
First published in July 2021.
Pfizer on Wednesday reported its second-quarter results, beating top- and bottom-line expectations and raising its guidance for 2021 yet again. The U.S. pharmaceutical giant reported a net profit of $5.56 billion on revenue of $18.98 billion for the second quarter of 2021, mainly thanks to its COVID-19 vaccine. BNT162b2, as the drug is officially called, accounted for 41% of Pfizer’s revenue for the quarter, dwarfing any other drug in Pfizer’s vast portfolio.
Due to additional supply agreements signed since the company’s last earnings report, Pfizer, which developed the vaccine in cooperation with German biotechnology company BioNTech, now expects to deliver 2.1 billion doses of the mRNA vaccine this year, raising its revenue guidance for the drug from $26 billion to $33.5 billion.
Thanks to that increase, the company raised its overall revenue guidance to $78 to $80 billion, which would represent 86 to 91% year-over-year growth.
The drugmaker stands to make a sizeable profit from its vaccine breakthrough, as it expects an adjusted income before tax margin in the high 20s for BNT162b2, even after accounting for the 50% gross profit split with BioNTech.
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▫ PMP News reporting.
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[This piece was first published in Statista & written by Felix Richter, Data Journalist at Statista on 29 July 2021.]
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