Pfizer Made $11.3B in Covid Vaccine Revenue in Half of 2021

Joe Raedle/Getty Images

Pfizer’s revenue boomed as a result of its Covid-19 vaccine, and the company reported $10.5 billion in net income in the first half of 2021 — up $3.6 billion more from the same period in 2020. And according to the nonpartisan Center for Responsive Politics’ Open Secrets, the company reported $11.3 billion in revenue from its Covid-19 vaccine in the first half of 2021 alone.

An SEC filing also noted that “12% and 14% of total revenues for the three and six month” periods in 2021 came from the U.S. government and were spent “primarily” on the Covid-19 vaccine.

The Covid-19 vaccine has provided more revenue than any other Pfizer vaccine on the market, Open Secrets noted.

Pfizer has experienced a large revenue jump in all its vaccine programs — $14.1 billion in the first half of 2021, compared to just $2.9 billion in the first half of 2020, prior to the Covid vaccine receiving emergency use authorization from the Food and Drug Administration (FDA).

Open Secrets noted that as Pfizer’s revenue increased, so did its lobbying efforts.

“In 2020, Pfizer spent $13.2 million on its lobbying efforts — that’s up from $11 million in 2019 and the most the company has spent on lobbying since 2009 during the debate over the Affordable Care Act,” the article states, noting that the company focused much of their lobbying in early 2020 on the FDA and Centers for Disease Control and Prevention.

With the FDA recently granting full approval to the Pfizer Covid vaccine and authorizing a third dose for immunocompromised individuals — with the expectation that further approval may come as soon as Labor Day weekend — Pfizer is likely to see a continued increase increase in profits.

Have a tip we should know? tips@mediaite.com