Thanks to its COVID vaccines and treatments, Pfizer's sales hit a record high last quarter.
👉 Background: Pfizer is the biggest pharmaceutical company in the world. The company has been around since 1849 and now it makes everything from Advil to Xanax, and of course the Pfizer COVID vaccine.
👉 What happened: Turns out Pfizer’s sales hit a record high last quarter at around US$28 billion. While Pfizer has always been successful, it owes a very large Christmas present to a certain virus.
👉 What else: That’s because more than half of Pfizer’s revenue came from either COVID vaccines or their COVID treatments. Pfizer wasn’t exactly doing badly before the pandemic… but this is truly next level.
💡Even though we aren’t talking about COVID-19 as much anymore, that sure doesn’t mean the pandemic is over. And neither are the big bucks big pharma companies are making from it.
💡There are an estimated 335,000 active COVID cases in Australia right now - over 1.3% of Australians.
💡 So it’s no wonder that demand for COVID vaccines and treatments is still high. Unfortunately… it doesn’t look like COVID is going to disappear into the sunset anytime soon. And neither will all that juicy, vaccination revenue.
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