Summary
Pfizer Inc. reported strong revenue growth for the second quarter and first six months of 2021, largely driven by significant contributions from the Pfizer-BioNTech COVID-19 vaccine (BNT162b2). Total revenues for the second quarter of 2021 surged by 92% year-over-year to $19.0 billion, and for the first six months by 68% to $33.6 billion. The company's operational performance, excluding the impact of foreign exchange, also showed substantial improvement, with revenues increasing by 86% in the second quarter and 64% in the first six months. This growth was primarily fueled by the BNT162b2 vaccine, which generated $7.8 billion in the second quarter and $11.3 billion in the first six months. Excluding the vaccine, operational revenue growth remained robust at 10% for the quarter and 9% for the year-to-date, demonstrating continued strength in key products like Eliquis, Vyndaqel/Vyndamax, and Inlyta, alongside growth in biosimilars and the Hospital segment. Net income attributable to Pfizer Inc. common shareholders was $5.6 billion for the second quarter ($0.99 per diluted share) and $10.4 billion for the first six months ($1.87 per diluted share). The company maintained a healthy balance sheet with total assets of $170 billion and total equity of $70.3 billion as of July 4, 2021. Pfizer also highlighted ongoing business development initiatives, including a significant collaboration with Arvinas, Inc. and the acquisition of Amplyx Pharmaceuticals, Inc., underscoring its commitment to strategic growth in innovative medicines and vaccines.
Financial Highlights
55 data points| Revenue | $18.90B |
| Cost of Revenue | $7.00B |
| Gross Profit | $11.90B |
| SG&A Expenses | $2.92B |
| Operating Income | $10.41B |
| Interest Expense | $316.00M |
| Net Income | $5.56B |
| EPS (Basic) | $0.99 |
| EPS (Diluted) | $0.98 |
| Shares Outstanding (Basic) | 5.60B |
| Shares Outstanding (Diluted) | 5.68B |
Key Highlights
- 1Second quarter 2021 revenues increased 92% to $19.0 billion, with the Pfizer-BioNTech COVID-19 vaccine (BNT162b2) contributing $7.8 billion.
- 2First six months 2021 revenues increased 68% to $33.6 billion, with BNT162b2 contributing $11.3 billion.
- 3Excluding BNT162b2, operational revenue growth remained strong at 10% for the quarter and 9% for the first six months, driven by key products like Eliquis, Vyndaqel/Vyndamax, and Inlyta.
- 4Net income attributable to Pfizer Inc. common shareholders was $5.6 billion ($0.99/share) for Q2 2021 and $10.4 billion ($1.87/share) for the first six months.
- 5The company ended the quarter with $2.4 billion in cash and cash equivalents and $19.3 billion in short-term investments, indicating a strong liquidity position.
- 6Significant business development activities were highlighted, including a global collaboration with Arvinas, Inc. for ARV-471 and the acquisition of Amplyx Pharmaceuticals, Inc.