In a recent investor call with Pfizer’s leadership and key financial backers, CEO Albert Bourla made it clear that the company has plans to capitalize on its failed COVID vaccines and antiviral drugs for years.
“Hopefully, we could be giving it annually and maybe for some groups that are high-risk more often,” Bourla told investors earlier this year, referring to COVID-19 booster shots and vaccines tailored to specific variants.
“Then you have the treatment [Paxlovid] that will, let’s say, resolve the issues of those that are getting the disease,” he continued.
According to Kaiser Health News, the company doubled its revenue from 2020 to 2021, bringing in more than $81 billion, and also gained a significant foothold in the American regulatory process.
As the world has seen, both the vaccine and the antiviral drug has shown themselves to be ineffective at stopping infections, spread or resolving sickness from the virus. In fact, some patients have experienced issues with “rebound” infections with Paxlovid, experiencing stronger symptoms after completing their series of the antivirals from Pfizer.
That failure won’t stop Pfizer from selling millions more doses, though, executives said. “People are going to get out there,” the president of Pfizer Biopharmaceuticals Group, Angela Hwang, said in May. “We know with all of that, infections are going to increase, and that’s the role that Paxlovid can play.”
The Biden administration has helped to further their plans, ordering millions of new doses of both the vaccine and the antiviral pill, despite its inability to curb the virus’ impact on most Americans.
BREAKING: The Biden administration has announced a $3.2 billion deal to purchase 105 million doses of Pfizer’s COVID-19 vaccine for a fall vaccination campaign.
This deal is enriching shareholders of the most profitable industry history.
Who is this administration fighting for?
— Jenny Beth Martin (@jennybethm) July 3, 2022
Dr. Mikael Dolsten described immunocompromised patients as an “opportunity growth area” during the investor call. Pfizer is now approaching Paxlovid’s failure to neutralize the virus as an opportunity to give patients more courses.
“[They] may carry this virus for a very, very long time,” he said. “And we see that area as a real new opportunity growth area for Paxlovid to do very well, where you may need to take multiple courses.”
The company’s projected revenue in 2022 is $50 billion from the vaccine and Paxlovid.
Profitability is expected to expand in the future. Bourla told investors that the price of both Pfizer’s COVID-19 vaccine and Paxlovid will increase once society is past the pandemic to “reflect the cutting-edge technology.”