Pfizer Set To Rake In $15 Billion From COVID-19 Vaccine Sales

Pharmaceutical giant Pfizer Inc. on Tuesday projected it will earn about $15 billion in revenue from its COVID-19 vaccine this year, the company said.

Pfizer’s COVID-19 vaccine, the first in the U.S., was approved by the Food and Drug Administration (FDA) for emergency use authorization (EUA) on Dec. 11.

 “2020 has been a transformational year, not only for Pfizer, but also in the life of every patient in every community that we serve,” Pfizer CEO Albert Bourla said in a statement. “We saw the culmination of Pfizer’s decade-long conversion into a pure-play, science and innovation-focused company … Our record-breaking success at developing a vaccine against Covid-19, along with our partner BioNTech, is just one example of what we believe this new Pfizer is capable of achieving.”

Pfizer’s fourth-quarter earnings report was the first since its vaccine received its EUA. Since then, the vaccine, developed in partnership with German firm BioNTech, has begun to be distributed across the world. The company said it has shipped 65 million doses so far, including 29 million to the U.S. The company expects to have distributed 200 million doses to the U.S. by the end of May,  two months ahead of its contractual obligation.

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