Pfizer reports record profits amid growth in vaccine, Paxlovid pill

Pfizer reports record profits amid growth in vaccine, Paxlovid pill





US drugmaker Pfizer reported a net income of $7.86 billion due to the COVID-19 vaccine and the Paxlovid pill.


The vaccine helped the drugmaker to report $13 billion in sales in the quarter as the Paxlovid pill brought in $1.5 billion helping to boost the company’s revenue by 77 per cent. The profits of the company grew 61 per cent.


The adjusted earnings of the company stood at $1.62 per share in the first quarter which surpassed $1.49 projected by industry experts. The company’s revenue was $25.66 billion which was above Wall Street’s expectation of $24.1 billion.

ALSO READ: Pfizer recalls some batches of blood pressure drug over carcinogen presence


Pfizer had launched its vaccine for adults in late 2020 in the US and later expanded it to include children.


The pharmaceutical giant had said last month that a third dose of the COVID-19 vaccine protection against the Omicron variant in children was meant for age group of 5 to 11.


The vaccine maker had added that; it will apply for US emergency use authorization for the booster dose for the age group.

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

Related posts

Leave a Reply

Your email address will not be published.