Pfizer Vaccine Bonanza Slows — But Bill Gates Sold Early, Made Huge Profits

Pfizer announced 2022 profits of $31.4 billion on record sales of $100.3 billion. Sales from its COVID-19 vaccine and Paxlovid, used to treat COVID-19, totaled $56 billion — more than half the vaccine maker’s annual revenue. However, the company warned investors to expect sales of those two products to plummet up to 58% in 2023.

April 1, 2023 | Source: The Defender | by Brenda Baletti, Ph.D.

Pfizer on Tuesday announced 2022 profits of $31.4 billion on record sales of $100.3 billion. Sales from its COVID-19 vaccine and Paxlovid, used to treat COVID-19, totaled $56 billion — more than half the vaccine maker’s annual revenue.

However, the company warned investors to expect sales of those two products to plummet up to 58% in 2023, to only about $21.5 billion — $3 billion short of Wall Street projections. Pfizer projected total 2023 revenue of only about $67-$71 billion.

The news followed on the heels of a string of developments calling into question the COVID-19 vaccines — including comments last week by billionaire and vaccine investor Bill Gates, who criticized the efficacy and durability of the vaccines during a talk at Australia’s Lowy Institute.

Investigative journalist Jordan Schachtel on Tuesday revealed the extent of Gates’ profit-making from his investments in Pfizer partner BioNTech. The Bill & Melinda Gates Foundation made 15 times its initial investment when the foundation sold its BioNTech shares at the height of their value in 2021.