In spite of the recent criticism Pfizer has received regarding its alleged effort to “mutation” viruses, as well as doctors' reluctance towards boosters, the vaccine maker reported all-time high revenues for 2022, with a large portion coming from COVID-19 related products.
On January 31, Pfizer's earnings release announced that their 2022 full-year revenues had achieved an incredible milestone of $100.3 billion — the first time in history they have exceeded $100 billion. This milestone is also reflective of a 30 percent operational growth within the company as well. Apart from the contributions of Comirnaty vaccine and Paxlovid antiviral, due to COVID-19, operational revenues only grew by 2%. All together, these two products have brought in a staggering $56 billion in sales for the company.
Dr. Albert Bourla, chairman and CEO of Pfizer, proudly declared that 2022 was an unprecedented year for the company with its most significant revenue and earnings per share ever in existence.
As we move into 2023, I am confident that our product and indication launches will be the most prolific in history. We anticipate to notch up record-breaking numbers over a condensed period of time.
This year, Comirnaty and Paxlovid's sales are predicted to experience the biggest decline in 2023 before returning to an upward trend next year as a result of the considerable inventory that was available from the government at the start of this year.
According to Pfizer, Comirnaty sales are forecasted to decrease by a staggering 64 percent in 2021, settling at $13.5 billion; meanwhile Paxlovid is expected to plummet 58 percent to hit $8 billion in revenue.
As Virus Variants Emerge, Vaccine Prices Skyrocket
Recently, Pfizer published its results while under scrutiny due to an investigative report that indicated the pharmaceutical giant may be exploring mutations of COVID-19 for vaccine development.
During a confidential conversation with an undercover Project Veritas journalist, Dr. Jordon Walker of Pfizer's Research and Development team expressed his interest in exploring the possibility of creating preemptive vaccines through mutation. He explained that it could lead to advances in vaccine production and distribution.
Walker emphasized that while there is a risk of the pharmaceutical industry mutating viruses, which nobody wants to happen, COVID-19 will remain an extremely profitable opportunity for their company in the future.
Sen. Ron Johnson (R-Wis.) has requested that Congress examine the process of authorizing COVID-19 immunizations, while Sen. Marco Rubio (R-Fla.) delivered a missive to Bourla inquiring into Pfizer's efforts in altering the coronavirus genome.
In the second half of this year, Pfizer is projected to switch up its prior policy and start selling Comirnaty, their COVID-19 vaccine, in commercial channels throughout the U.S. Furthermore, they plan on raising prices by around four times within 2023.
The European Parliament imposes ban on vaccine data due to an insufficient amount of information
Pfizer is ardently advocating for people to take the COVID-19 vaccine, but an increasing number of medical doctors are refusing to receive booster shots because they don't view that there's enough clinical trial evidence.
Dr. Todd Lee, an infectious disease specialist from McGill University recently took to Twitter expressing his concern regarding the lack of randomized clinical trial evidence for booster vaccines – stating that he had taken the vaccine without any RCT level evidence in tow.
Lee, a three-time vaccine recipient himself, firmly emphasized that this is not about being anti-vaccine. Rather, it's concerning the need for reliable evidence of benefits to sustain its use since vaccines are estimated at $30 billion per year and administered to hundreds of millions. It only makes sense that they should be thoroughly backed up by proof.
As a consequence of Pfizer's refusal to divulge details about their COVID-19 vaccine purchase agreements, the European Parliament is now considering instituting an outright ban on the company. Therefore, it appears that transparency and openness are of paramount importance when dealing with sensitive matters such as this one.
On January 11th, the European Parliament’s committee on COVID unanimously approved a proposal to ban certain products. Despite two parties voting against it, the resolution passed with overwhelming support from all other political groups.