A “Fundamentally Changed” Company: Pfizer Reports Strong 2021 Earnings

Pfizer has emerged from 2021 a changed company. In the pandemic’s early days, Pfizer used its resources and expertise to help protect populations from COVID-19. Less than two years later, the company has delivered the first FDA-approved vaccine (with its partner BioNTech) and the first FDA-authorized oral treatment for COVID-19.

Reflecting these achievements, the company reported strong financial results for the fourth quarter and full year 2021, and provided full-year 2022 revenue guidance, including anticipated revenues for the Pfizer-BioNTech COVID-19 vaccine and for its oral treatment.

Pfizer reported $81 billion in revenue for the full year, reflecting 92 percent operational growth, and $24 billion for the fourth quarter, reflecting 106 percent operational growth.

“These successes have not only made a positive difference in the world, but I believe they have fundamentally changed Pfizer and its culture forever,” said Pfizer Chairman and CEO Albert Bourla.

For more detail, read our earnings release.

Pfizer reached approximately 1.4 billion people in 2021 – one out of every six people on Earth – with its medicines and vaccines.* The company produced more than 3 billion doses of its mRNA-based COVID-19 vaccine.

Pfizer’s purpose-driven employees continued to rise to the challenge of addressing the world’s most devastating diseases, Dr. Bourla noted. “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,” Dr. Bourla said.

Last year, Pfizer initiated 13 pivotal clinical studies – the highest number ever for Pfizer – and invested $10.5 billion in its R&D efforts. The company remains focused on being nimble, investing in its R&D organization and exploring dynamic partnerships to fully realize the power of its science.

Pfizer is building on its successes, expanding its research and investment in mRNA technology. The company is developing an investigational flu vaccine and is collaborating with BioNTech on a potential shingles vaccine, as well as working with Beam Therapeutics on a program targeting rare genetic diseases of the liver, muscle and central nervous systems.

The proposed acquisition of Arena Pharmaceuticals with its portfolio of promising investigational therapies for immuno-inflammatory diseases will complement Pfizer’s existing expertise.  The transaction remains subject to customary closing conditions.

Chief Financial Officer Frank D’Amelio, who is retiring after 15 years with Pfizer, noted that the company is performing better than at any time in his tenure.

“We have prudently deployed our capital through multiple business development transactions in recent months to advance our strategies, always with an eye toward bolstering growth in the latter half of this decade and beyond,” D’Amelio said. “I have never been more confident in the future of Pfizer.”

Please see below for earnings highlights and visit Pfizer’s Investors site for more information.