Finance

Pfizer expects to earn billions extra from corona vaccine

This is evident from the company’s third-quarter figures.

2.3 billion vaccines

Pfizer expects to sell a total of 2.3 billion vaccines this year. This not only generates a huge turnover, but also a considerable profit.

Just under 30 percent of vaccine sales are turned into profits. That equates to $10.8 billion for this year. Pfizer’s corona vaccine was developed together with the German biotechnologist BioNTech, which has an equally large share.

A modest 16 percent in profit tax is deducted from that, and Pfizer arrives at a net profit of about 9 billion, from the corona vaccine alone.

More and more

It is not the first time this year that Pfizer has raised expectations. In May, the company expected to supply 1.6 billion more vaccines, for a total amount of 26 billion dollars. A few months later that was already 33.5 billion dollars and now 36 billion.

For the full year, Pfizer now expects total sales of $81 to $82 billion. That is almost double the year before. It is not only the corona vaccines that are driving up turnover. Even if these are not taken into account, turnover is still expected to grow by 6 percent.

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