Pfizer’s (NYSE: PFE) Q1-2022 earnings beat analysts’ expectations driven by its COVID-19 vaccine & new oral antiviral drug Paxlovid.
Paxlovid is Pfizer’s new antiviral pill used to treat COVID-19, which has received regulatory authorization in more than 60 countries.
Pfizer’s revenue came in at $25.7 billion, a 77% YoY increase. COVID-19 vaccine sales made up more than 50% of total sales, while the newly produced Paxlovid recorded $1.5 billion in sales.
Pfizer expects to produce 30 million courses of Paxlovid by H1-2022 & 120 million by the end of 2022. The company expects to sell $22 billion worth of the pill in 2022, & $32 billion of its COVID-19 vaccine.