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The COVID-19 pandemic has introduced much of the country to two companies it may not have been familiar with before, Pfizer and Moderna. Both Pfizer and Moderna are largely responsible for supplying and distributing COVID-19 vaccines to not only America, but the rest of the world as well. Through this process, many governments have paid these companies for their services and as a result, they have raised profits tremendously. In a recent report from Reuters, Pfizer revealed just how much they've made throughout the year from supplying and distributing COVID-19 vaccines around the world.
Pfizer reportedly made $36 billion from COVID-19 vaccines this year. Heading into next year, the U.S. drugmaker expects to make $29 billion from COVID-19 vaccines. Those projections could rise as Pfizer seeks to sign more deals with countries to produce vaccines. Overall, Pfizer hopes to produce four billion vaccines in 2022. Of those four billion doses, the drugmaker plans to allocate at least one billion vaccines for low and middle income countries.
"The high-income countries, they have the tendency to be way more proactive, and they are placing their orders," Pfizer executive Albert Bourla said, according to Reuters.
"I want to make sure that I go on record publicly... they need to place orders, period."
Pfizer also expects to the COVID-19 vaccine market to extend beyond 2022. There's also a possibility that the U.S. government will sign another large contract with the drugmaker.
"As long as the government thinks they should be going with mass vaccinations that they buy and distribute, we will support them," Bourla added.
Beyond vaccines, Pfizer is also expanding into the antiviral drug market. Pfizer has been developing an antiviral drug market to treat COVID-19 and hopes to submit it for approval by the end of the year. If successful, their sales could increase even further.
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