A new top-selling medicine: Pfizer's COVID vaccine
Pfizer registered $36.8 billion of sales in 2021 from the COVID-19 vaccine it makes with BioNTech.
Why it matters: This vaccine is now officially the top-selling pharmaceutical product ever in a single year, by a huge margin.
- Humira is the next highest, with $20.7 billion reported in 2021 as the next highest in a single year.
What to watch: Pfizer expects the vaccine will generate $32 billion of sales this year, and the company's antiviral COVID pill, called Paxlovid, will create $22 billion of revenue.
- Pfizer's stock dropped more than 5% on those forecasts because Wall Street expected even higher revenue numbers.