"We continue to supply the world with Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the COVID-19 pandemic," Pfizer CEO Dr. Albert Bourla said Tuesday. File Photo by Debbie Hill/UPI | License Photo
May 3 (UPI) -- Pharma giant Pfizer said on Tuesday that it sold almost $15 billion worth of its COVID-19 vaccine and antiviral treatment in the first three months of 2022, shattering Wall Street expectations.
The company said in its first-quarter earnings report that sales of the vaccine, now known as Comirnaty, totaled $13 billion and sales of the antiviral coronavirus treatment Paxlovid totaled $1.5 billion.
Also, Pfizer reported a 61% increase in profit over the first quarter -- and said revenue, $25.7 billion, was up close to 80% over the same quarter in 2021.
Most analysts expected the report to show roughly $24 billion in first-quarter revenue.
"We continue to supply the world with Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the COVID-19 pandemic," Pfizer CEO Dr. Albert Bourla said in a statement.
Pfizer's Paxlovid antiviral treatment showed in clinical studies significant protection against hospitalization and death in COVID-19 patients. File Photo by Dr. James Heilman/Wikimedia Commons
"And we are on track to fulfill our commitment to deliver at least two billion doses to low- and middle-income countries in 2021 and 2022, including at least 1 billion doses this year."
Boula noted that Pfizer continues to supply products to Russia, but added that it's now donating all profits from its Russian subsidiary to humanitarian efforts in Ukraine. Russia invaded Ukraine in February, triggering a humanitarian crisis there and prompting many Western companies to cut business ties with Moscow.
"We will continue to do all we can to support the health of all people, which is in line with our purpose: Breakthroughs that change patients' lives," Boula added.
Paxlovid received emergency authorization in December and is one of two COVID-19 antivirals approved for use in the United States. Last week, the White House announced plans to expand access to Paxlovid for people with the virus.
Pfizer was the first drugmaker in the world to receive emergency use authorization in the United States for its COVID-19 vaccine in December 2020. Last week, it said that it's pursuing authorization for a smaller dose for children under 5 and booster shots for children 5-11.
Moderna, the second company to receive U.S. vaccine authorization, will release its earnings on Wednesday. The company reported revenues of $7.2 billion for the final quarter of 2021.
Johnson % Johnson, which produces the only other authorized COVID-19 vaccine, said last week that it earned $23.4 billion in the first quarter.