According to earnings statements published by the companies, Pfizer and Moderna expect to bring in $51 billion in vaccine sales this year. Pfizer expects $32 billion in sales, with Moderna projecting $19 billion in revenue.
According to the Daily Mail, both companies have big plans for 2022, including more vaccine products. The companies project to do exceptionally well in countries that promote annual booster shots, especially since some health officers note boosters will be needed for upwards of a decade to control Covid long-term.
Moderna CEO Stephane Bancel said in February that his company believes another Covid booster shot will also be needed come fall of 2022. This would only add to the company’s revenue projections going forward.
“We believe there’s a high probability that we’re moving into an endemic setting,” Bancel told CNBC’s Squawk Box in February.
“We should still be cautious because as we’ve seen with Delta, which came after alpha and was more virulent, [it] is always possible to get the more virulent variant of course.”
Albert Bourla, CEO of Pfizer, has also said he believes regular boosters will be necessary for at least the next ten years.
With these profits on the horizon, critics have pointed out how the majority of vaccines have been sold to rich developed countries, leaving poor countries vulnerable. Several African nations still have vaccination rates below five percent.
Bourla has said that this is not because of lack of access to vaccines, but instead because of vaccine hesitancy existing in these nations. However, experts say this is false.
Alex Maitland, a senior advisor for Oxfam, notes Bourla’s claim is false and that 67 to 89 percent of people in each country wanting the jab. Maitland says the primary issue is access to vaccines. Only one percent of Pfizer’s overall vaccine deliveries, and 1.4 percent of Moderna’s have gone to the developing world.
“Other companies who are producing this vaccine… aren’t showing this [profit] desire,” Maitland said.