Pfizer doubles net profit in 2021 thanks to the sale of the anticovid vaccine

The American pharmaceutical group Pfizer announced this Tuesday that in 2021 it doubled its annual net profit, which stood at around 19.2 billion euros, thanks to the sale of the anticovid vaccine. The company estimates that during 2022 it will register sales of 28,000 million euros from Comirnaty, the commercial name of its immunization.

In 2021, sales of the vaccine amounted to 32,196 million euros, without comparison with 2020 because hardly any injections were sold during that year. Of the total sales of Comirnaty, 6,836 million euros corresponded to the United States, while the remaining 25,361 million euros came from the rest of the world. In this way, in the whole of last year, Pfizer’s net attributable profit was 19,239 million euros, more than double that of 2020.

The laboratory’s turnover increased by 95% in 2021, reaching 71,156 million euros. By business segment, the vaccine division became the group’s main division, multiplying its turnover by 6.5 times, to 37,312 million euros, while the oncology treatment business rose by 13%, to 10,795 million euros.

The internal medicine division experienced an increase of 4%, reaching 8,166 million euros), while the hospital products division grew 8%, to 6,391 million euros. The turnover of the inflation and immunology area was 3,879 million euros, 3% less, while the rare diseases segment rose 20%, to 3,097 million euros.

The cost of products sold during the year multiplied by 3.5, to 26,979 million euros, while selling, information and administrative expenses rose 10%, to 11,119 million euros. The research and development (R&D) item was 12,105 million euros, 47% more.

Compared to results for the fourth quarter of 2021 alone, Pfizer’s net attributable profit quadrupled to €2.97 billion. In that period, the turnover doubled, standing at 20,866 million euros.