Pfizer reported strong financial results for the fourth-quarter and full-year of 2021 as Dr. Albert Bourla, Chairman and Chief Executive Officer said, “In the early days of the COVID-19 pandemic, we committed to use all of the resources and expertise we had at our disposal to help protect populations globally against this deadly virus, as well as to offer treatments to help avoid the worst outcomes when infections do occur.
“We put billions of dollars of capital on the line in pursuit of those goals, not knowing whether those investments would ever pay off. Now, less than two years since we made that commitment, we are proud to say that we have delivered both the first FDA-authorized vaccine against COVID-19 (with our partner, BioNTech) and the first FDA-authorized oral treatment for COVID-19.”
According to a statement, the fourth-quarter 2021 revenues totalled $23.8 billion, an increase of $12.2 billion, or 105%, compared to the prior year quarter, reflecting operational growth of $12.3 billion, or 106%.
The fourth-quarter 2021 operational growth was primarily driven by:
- Comirnaty(1), which contributed $12.5 billion in direct sales and alliance revenues;
- Eliquis globally, up 19% operationally, driven primarily by continued increased adoption in non-valvular
atrial fibrillation and oral anti-coagulant market share gains;
- Biosimilars, which grew 30% operationally to $680 million, primarily driven by recent oncology monoclonal
antibody biosimilar launches of Ruxience (rituximab), Zirabev (bevacizumab) and Trazimera (trastuzumab),
as well as growth from Retacrit (epoetin) in the U.S.;
- Vyndaqel/Vyndamax globally, up 34% operationally, primarily driven by continued strong uptake of the
transthyretin amyloid cardiomyopathy indication in the U.S. and Japan;
- Pfizer CentreOne, Pfizer’s contract development and manufacturing organization, up 25% operationally,
reflecting growth from manufacturing of legacy Upjohn products for Viatris(6) since the close of the UpjohnMylan transaction in November 2020 and certain Comirnaty-related manufacturing activities performed on behalf of BioNTech(1);
- Paxlovid, which contributed $76 million in U.S. sales after the U.S. Food and Drug Administration (FDA)
authorized the treatment for emergency use(8) in late-December 2021;
- Xeljanz, up 4% operationally, driven primarily by favourable wholesaler inventory buying patterns in the
U.S., as well as growth in the emerging markets from the rheumatoid arthritis indication.
The statement goes on to outline the full-year 2021 revenues, which totalled $81.3 billion, an increase of $39.6 billion, or 95%, compared to full-year 2020, reflecting operational growth of $38.4 billion, or 92%, and the favourable impact of foreign exchange of $1.2 billion, or 3%.
Operational growth compared to the prior year was driven primarily by:
- Global sales of Comirnaty;
- Strong growth of Eliquis globally;
- Oncology biosimilars, driven by growth following the launches of Ruxience, Zirabev and Trazimera;
- Pfizer CentreOne, led by manufacturing of legacy Upjohn products for Viatris and Comirnaty for BioNTech;
- Vyndaqel/Vyndamax in the U.S., developed Europe and Japan;
- the Hospital therapeutic area, primarily driven by the anti-infectives portfolio in international markets;
- Inlyta globally;
- Xtandi in the U.S.
Dr. Bourla went on to say, “These successes have not only made a positive difference in the world, but I believe they have fundamentally changed Pfizer and its culture forever. Everywhere I look in the company, I see colleagues who are inspired by what we have achieved to date and filled with determination to be part of the next breakthrough that could change the world for patients in need.”
The guidance for 2022 revenues also includes:
- an anticipated $32 billion of revenue for Comirnaty(1), which includes doses expected to be delivered in
fiscal 2022(5) under contracts signed as of late-January 2022;
- an anticipated $22 billion of revenue for Paxlovid, which includes treatment courses expected to be delivered
in fiscal 2022(5), primarily relating to supply contracts signed or committed as of late-January 2022.
Find the full earnings release here.