Big pharmaceutical companies have made billions of dollars from the sale of Wuhan coronavirus (COVID-19) vaccines.
Pfizer, BioNTech, Moderna, AstraZeneca and Johnson & Johnson have all made or are expected to make billions from the sale of the COVID-19 vaccines by the end of the year. (Related: Big money for Big Pharma: World Bank to inject more money into Big Pharma’s accounts.)
The biggest winners are Pfizer and its German partner BioNTech. These two corporations got a headstart over their competitors in the creation of the COVID-19 vaccines.
The Pfizer-BioNTech COVID-19 vaccine clinical trials were the first to supposedly receive positive results. Because of this, its vaccine was the first to get emergency use authorizations from drug regulatory bodies in the United States and the European Union.
Because of their headstart, Pfizer and BioNTech were able to make the most money from selling COVID-19 vaccines. Pfizer alone raked in over $10.8 billion in the first half of 2021 alone. The company has already raised its outlook for the rest of the year. It expects to make at least $33.5 billion in vaccine sales before 2022.
On Tuesday, Aug. 10, BioNTech reported making $7.3 billion during the first half of 2021. The company expects full-year revenues from the COVID-19 vaccines to be about 15.9 billion euros ($18.6 billion). This is a significant increase from its previous forecast of 12.4 billion euros ($14.5 billion).
This forecast would push BioNTech into the ranks of the world’s top 20 drugmakers by revenue this year. BioNTech recently announced that it had signed contracts to supply nations with 2.2 billion doses of the vaccine for delivery by the end of the year, and at least another billion doses for 2022 and beyond.
Company co-founder and CEO Ugur Sahin also recently announced that it and Pfizer have delivered at least one million doses of the COVID-19 vaccine.
Moderna reported making $5.9 billion in the first six months of the year. It expects to make over $20 billion by the end of 2021 in revenues.