USA: Pfizer posts a 78% jump in profit in Q2-2022

The American pharmaceutical company Pfizer announced Thursday a 78% jump in its profit during the 2nd quarter, thanks in particular to the sales of its vaccine and its anti-Covid pill.

The company also confirmed combined sales forecast of $54 billion in 2022 for its Covid-19 vaccine and pill as demand for coronavirus products remains strong.

From April to June, the laboratory’s turnover jumped 47% to reach 27.74 billion dollars, a record.

On the stock market, the company’s stock rose 1% in pre-market trading as overall net profit rose to $9.91 billion despite a stronger dollar.

Sales of Pfizer’s Covid-19 vaccine have driven much of its growth over the past year, and revenue is expected to be further boosted by the antiviral treatment Paxlovid, demand for which has surged in recent years. months following an upsurge in cases in the United States.

Paxlovid’s sales of $8.1 billion beat Refinitiv’s estimate of $7 billion.

The company said it recorded an inventory write-down of $450 million in the second quarter, related to Covid-19 products that exceeded or approached the shelf limit.

Demand for Paxlovid has recently increased in the United States and other countries due to new outbreaks.

Pfizer has banked on demand for vaccine recalls to drive sales over the next few years.

Last month, the company and its partner BioNTech signed a $3.2 billion contract with the US government for 105 million doses of their vaccine, which includes the supply of boosters tailored to the Omicron variant, pending clearance. regulatory.

The company now expects full-year adjusted earnings of $6.30 to $6.45 per share, down from an earlier forecast of $6.25 to $6.45 per share.

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