Pfizer & Moderna project $51 billion in combined revenue from COVID vaccine sales in 2022

Despite fact that COVID-19 cases continue to decline in many parts of world and governments believe pandemic is grually becoming endemic, pharmaceutical companies like Pfizer and Moderna anticipate $51 billion in combined revenue from COVID-19 vaccine sales in 2022. se figures are expected to be a minimum sales result, as pharma companies have signed contracts with many nations across world. But vaccine sales could cross $51 billion target if demand gets higher, depending on situation of  pandemic.

Both companies have big plans for this year, with World Health Organization (WHO) and People's Vaccine Alliance (PVA) continuously demanding companies to produce more and more shots, and some experts say annual booster jabs may be needed for upwards of a dece to control long-term COVID-related illness. According to data from Centers for Disease Control and Prevention (CDC), Pfizer vaccine has been ministered 326 million times to fully vaccinate 123 million Americans and boost 52 million ors. Moderna's vaccine has been ministered 208 million times to fully vaccinate 41 million people. 

It is worth mentioning here that Moderna and Pfizer, which partner with German company BioNTech for development and manufacturing of COVID vaccines, are soon going to launch Omicron-specific vaccines. According to official information, vaccine manufacturing companies are making a strong profit on ir shots. Modern reported a net income of $12.2 billion for 2021, and Pfizer's profit margin in 2021 was 20% higher and is expected to slightly rise in 2022, as per Chief Financial Officer, Frank D'Amelio. 

Scientists believe that annual boosters will be necessary for at least next ten years. World Health Organization has called for greater vaccine equity across world, as many developing nations are still facing trouble getting COVID vaccine. While some countries have vaccination rates of less than 5%, this is not because of a shortage of vaccine but rar hesitancy among people. Alex Maitland, a member of PVA, expressed concern about lack of vaccines and said only one percent of Pfizer's overall and 1.4 percent of Moderna's have gone to developing world. He said vaccine companies have prioritized selling jabs for booster shots over and over to developed nations, where profit margins are higher.

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