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

Despite the fact that COVID-19 cases continue to decline in many parts of the world and governments believe the pandemic is gradually becoming endemic, pharmaceutical companies like Pfizer and Moderna anticipate $51 billion in combined revenue from COVID-19 vaccine sales in 2022. These figures are expected to be a minimum sales result, as pharma companies have signed contracts with many nations across the world. But vaccine sales could cross the $51 billion target if demand gets higher, depending on the situation of the pandemic. Both companies have big plans for this year, with the World Health Organization (WHO) and the People's Vaccine Alliance (PVA) continuously demanding the companies to produce more and more shots, and some experts say annual booster jabs may be needed for upwards of a decade to control long-term COVID-related illness. According to data from the Centers for Disease Control and Prevention (CDC), the Pfizer vaccine has been administered 326 million times to fully vaccinate 123 million Americans and boost 52 million others. Moderna's vaccine has been administered 208 million times to fully vaccinate 41 million people. It is worth mentioning here that Moderna and Pfizer, which partner with the German company BioNTech for the 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 their 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 the Chief Financial Officer, Frank D'Amelio. Scientists believe that annual boosters will be necessary for at least the next ten years. The World Health Organization has called for greater vaccine equity across the world, as many developing nations are still facing trouble getting the COVID vaccine. While some countries have vaccination rates of less than 5%, this is not because of a shortage of the vaccine but rather hesitancy among people. Alex Maitland, a member of the PVA, expressed concern about the lack of vaccines and said only one percent of Pfizer's overall and 1.4 percent of Moderna's have gone to the developing world. He said the vaccine companies have prioritized selling jabs for booster shots over and over to the developed nations, where profit margins are higher. Image: Shutterstock/ Representative

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

Pharmaceutical companies Pfizer and Moderna anticipate $51 billion in combined revenue from COVID-19 vaccine sales in 2022.

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