Pfizer Projects $54 Billion In Sales For Its COVID Vaccine & Paxlovid Treatment
Albert Bourla, chief executive officer of Pfizer, estimates $54 billion in sales from its Covid-19 vaccine and new treatment pill Paxlovid in 2022. The COVID-19 shots are expected to generate $32 billion and Paxlovid is estimated to bring in $22 billion.
Paxlovid, a new antiviral coronavirus treatment pill, received authorization from the FDA in December. This pill has already contributed $76 million in U.S sales. Pfizer expects to produce six million courses of Paxlovid for the first quarter and 120 million by the end of the year.
According to Pfizer, Paxlovid reduces the risk of hospitalization and death by 89%. The antiviral pill is not a replacement for the vaccine, however.
Pfizer also plans to expand the use of the Covid vaccine technology to treat other diseases. They are in the process of creating a shingles vaccine with partner BioNTech. Its sales are expected to grow after they develop a vaccine for the omicron variant and begin to distribute vaccines to ages five and under.
Although children will need three doses, Pfizer is working to distribute the first two shots once the FDA authorizes the action. The company is in discussion with more than 100 countries to distribute Paxlovid. Countries, including the United States and Britain, have secured deals to purchase the pills. But there remains uncertainty if low-income countries will have accessibility to the pill due to limited supplies.