Covid-19 Vaccine Producers Boost Profits by 23.1% in the First Quarter

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The Covid-19 vaccine remains profitable. Pfizer, Johnson&Johnson (J&J), Moderna, and AstraZeneca, the four companies that currently have the green light from the European Medicines Agency (EMA) to inject their vaccines, increased their combined profit by 23.1% in the first quarter of 2022 compared to the figures for the same period in 2021, according to the latest results published by the different companies and collected by PlantaDoce.

The combined profit of J&J, Pfizer, Moderna, and AstraZeneca reached $17.06 billion at the end of March 2022, up from $13.85 billion in 2021. Even so, J&J and AstraZeneca reduced their profit compared with the first quarter of the previous year. Meanwhile, combined sales reached $62.48 billion between January and March, up 35.5% from the first three months of 2021.

Pfizer closed the first quarter of 2022 with a profit of $7.86 billion, up from $4.88 billion collected between January and March 2021. The pharma developer of the Covid-19 vaccine (Comirnaty) posted a turnover of $25.66 billion in the first three months of 2022, up from $14.516 billion achieved a year earlier.

The American pharmaceutical company’s vaccines division tripled its sales during the first quarter of 2022, to $14.95 billion. Turnover derived from the Covid-19 vaccine (Comirnaty) accounted for 88.5% of this area’s turnover and more than half of total turnover.

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Pfizer closed the first quarter of 2022 with a profit of $7.86 billion

For its part, Johnson&Johnson posted a profit of $5.149 billion in the first quarter of 2022, compared with $6.197 billion between January and March 2021, a decline of 16.9%. In the first three months of 2022, Johnson&Johnson’s revenue was $23.426 billion, increasing sales by 4.9% over the same period in 2021.

Over the next two years, the U.S. multinational will split into two listed companies. To do so, the company will spin off its consumer and home health division, which will generate sales of $15 billion this year, according to company forecasts. The multinational will keep its pharmaceutical and medical devices business.

AstraZeneca closed the first quarter of 2022 with a profit of $388 million, down from $1.56 billion in the same period of 2021. The company justifies the drop in profit because of the decline in the market for Covid-19 vaccines and lower expectations for China, one of its main markets. Between January and March, this market accounted for 14% of the company’s turnover.

Finally, Moderna tripled its profit in the first quarter of the year to $3.6 billion. The U.S. biotech company also tripled sales between January and March, reaching a turnover of $6.07 billion.

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(Featured image by HakanGERMAN via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Author: Eva Wesley, Biotech – Born2Invest

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