ON CHRISTMAS day 2021, CNN Business named Pfizer head Albert Bourla the CEO (chief executive officer) of the year. “Bourla was our choice for all that Pfizer has done in a year where covid vaccines went mainstream ['vaccine' was even named word of the year by Merriam-Webster] and helped stabilise America's economy— and the world's for that matter,” said the television channel.
Over the top, one would think, but Bourla’s response indicated it was just the ticket. Pfizer did a lot of good for humanity and we are very, very proud of it. Not only were we able to save so many lives...but we are enjoying high levels of corporate reputation right now,” he said, adding, “people like us”. Is this true for Latin America? For any part of Africa or Asia?
Bourla must have meant Wall Street, because investors certainly love Pfizer. With its third-quarter sales outperforming even the most optimistic estimates, the pharma major expects to scoop in revenues of US $82 billion for the whole year. Revenues from the vaccine alone are expected to be $36 billion. That means Pfizer will be earning as much revenue from just its covid-19 vaccine sales in 2021 as its total earnings in 2020.
This story is from the January 16, 2022 edition of Down To Earth.
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This story is from the January 16, 2022 edition of Down To Earth.
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