Pfizer made $11.3 billion in revenue from Covid-19 vaccine in first half of 2021, while spending $13.2 million on its lobbying efforts in 2020 (mostly for FDA).
Pfizer’s revenue increased as a result of its Covid-19 vaccine, and the company reported a net income of $10.5 billion in the first half of 2021, up $3.6 billion from the same period in 2020.
According to the nonpartisan Center for Responsive Politics’ Open Secrets, the company earned $11.3 billion from its Covid-19 vaccine alone in the first half of 2021.
According to an SEC filing, “12% and 14% of total revenues for the three and six month” periods in 2021 came from the US government and were spent “primarily” on the Covid-19 vaccine.
According to Open Secrets, the Covid-19 vaccine has generated more revenue than any other Pfizer vaccine on the market.
Pfizer has seen a significant increase in revenue across all of its vaccine programs, with $14.1 billion in the first half of 2021 compared to $2.9 billion in the first half of 2020, prior to the Covid vaccine receiving emergency use authorization from the Food and Drug Administration (FDA).
According to Open Secrets, as Pfizer’s revenue grew, so did its lobbying efforts.
“In 2020, Pfizer spent $13.2 million on its lobbying efforts — that’s up from $11 million in 2019 and the most the company has spent on lobbying since 2009 during the debate over the Affordable Care Act,” the article states. It notes that the company focused much of their lobbying in early 2020 on the FDA and Centers for Disease Control and Prevention.
With the FDA recently granting full approval to the Pfizer Covid vaccine and authorizing a third dose for immunocompromised individuals — with further approval expected as soon as Labor Day weekend — Pfizer’s profits are expected to rise further.
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