Pfizer Reports Record Year in 2022, Sets Sights on Keeping Growth Momentum
Pharmaceutical giant Pfizer reported record-breaking financials for the end of 2022, with revenues at $100.33 billion, 43% higher than the year prior. This was largely due to sales of the company’s Covid-19 vaccine and antiviral drug, Cominarty and Paxlovid, respectively.
The global biopharmaceutical division itself recorded $98,988 million in revenue – a 24% increase from the prior year. Pfizer Chairman and CEO Albert Bourla commented on the record-breaking year, highlighting it as not only a successful financial venture, but also its ability to foster a positive perception of the pharmacist industry.
Looking towards 2023, Pfizer expects a decrease in revenue due to lower vaccine and medicine sales for Covid-19. Even with this downturn, Bourla hopes that the company can continue launching new products and keep its growth trajectory throughout the decade.
In the past year the company has dealt with pandemic successfully and recorded significant financial gains. Seeing into 2023, Pfizer looks to remain a key player in the pharmaceutical industry and further secure its growth.