In Q1 2022, operational growth was driven by global sales of Pfizer’s Paxlovid, Comirnaty and Eliquis among others. Credit: Jan Felix Christiansen from Pixabay.

Pfizer has reported an 82% operational growth in revenues to $25.7bn in the first quarter (Q1) of 2022 as against $14.5bn in the year-ago quarter.

Operationally, the revenue rose by 2% on excluding Comirnaty and Paxlovid’s contributions.

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Comirnaty is a Covid-19 vaccine while Paxlovid is an oral Covid-19 antiviral. 

For the quarter, operational growth was chiefly driven by global sales of Comirnaty, Paxlovid, Eliquis, Vyndaqel/Vyndamax and sales of Prevnar family in the US.

The growth was partially offset by reduced revenues of Chantix and Xeljanz worldwide and Ibrance in the US.

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In Q1 2022, the reported diluted earnings per share (EPS) was $1.37 versus $0.86 in the first quarter of 2021, reflecting a surge of 59%.

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Furthermore, a 72% growth in adjusted diluted EPS to $1.62 was reported in Q1 2022 compared to $0.95 in Q2 2021.

Pfizer chairman and CEO Dr Albert Bourla said: “I am very proud of our performance this quarter, both from a financial perspective and from the standpoint of trying to be a force for good in the world. 

“We continue to supply the world with Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the Covid-19 pandemic, and we are on track to fulfil our commitment to deliver at least two billion doses to low- and middle-income countries in 2021 and 2022, including at least one billion doses this year.” 

The company also reaffirmed the full-year 2022 financial guidance for revenues ranging between $98bn and$102bn.

Pfizer also reaffirmed 2022 revenue guidance for Comirnaty and Paxlovid of nearly $32bn and $22bn, respectively.

The full year 2022 financial guidance for adjusted diluted EPS was updated to $6.25-$6.45 from a prior range of $6.35-$6.55.

In February this year, the company reported revenues of $81.3bn for the full year 2021 versus $41.7bn for the full year 2020, indicating a 92% operational growth.