As with many companies, the year 2020 was marked by several events. For Pfizer, the development of the Covid-19 vaccine in partnership with BioNTech remains one of the highlights of the year. Apart from this, the American biopharmaceutical group recorded sales growth for the whole of the 2020 financial year. Here are the details of the laboratory's performance this year.
In the fourth quarter of 2020, Pfizer Group's business has seen a remarkable improvement. Over the entire period, the pharmaceutical company achieved sales of 11.7 billion dollars. It reports a 12% increase compared to the same period last year.
This growth in quarterly turnover was mainly driven by the good sales momentum in the quarter. Sales of cancer treatments increased by 23% compared to Q4-2019. Sales of all the company's vaccines rose by 17% in Q4-2020.
As a reminder, the US group had a net loss of $333 million a year earlier. It did better in Q4 2020 by returning to profit. In fact, the company recorded a net profit of 534 million dollars for this quarter.
In November 2020, Pfizer sold its off-patent drug subsidiary Upjohn to merge with Mylan. This merger resulted in the creation of Viatris. In addition to this merger, another highlight of the year for the pharmaceutical company was the arrival of a vaccine against Covid-19.
In the twelve months of the 2020 financial year, the American giant achieved a turnover of 41.9 billion dollars (34.9 billion euros). This is a 2% increase on its level for the year 2019 ($41.2 billion). However, this development does not take into account the impact of the Upjohn divestment and the family health figures.
Over the one-year period, the group posted operating growth of 8% (on a like-for-like basis). This performance is supported by the increase in sales over the year. On the other hand, the American laboratory recorded a poor performance for its net profit. The latter reached 9.6 billion dollars in 2020. It fell by 41% compared to the previous year.
For the full year 2020, Oncology sales grew by 21%. Sales in the Rare Diseases segment were up 29% for the year. In detail, the group's anticoagulant Eliquis (apixaban) grew by 17% with estimated sales of USD 4.9 billion.
Meanwhile, sales of the anti-cancer drug Ibrance (palbociclib) reached $5.4 billion in 2020. They show a 9% year-on-year increase. Prevnar-13 remains the company's best-selling product. This is the vaccine developed by the company against pneumococcal pneumonia.
Sales of this product amounted to $5.85 billion in 2020, up slightly by 1% compared to 2019. In the Rare Diseases segment, sales of Vyndaqel/Vyndamax (tafamidis meglumine) tripled to $1.3bn in the year under review.
Pfizer recorded strong growth in biosimilar sales in 2020. They increased by 68% year-on-year.
In March 2020, Pfizer signed a partnership agreement with the German company BioNTech. This is part of the development of a vaccine against Covid-19. The American pharmaceutical group has high ambitions for the success of this vaccine.
It is the first anti-Covid vaccine authorised in the world. For the American giant, it would be one of the most profitable products in the history of the pharmaceutical industry. According to the group's forecasts at the time, sales of this vaccine should reach nearly 15 billion dollars over the whole of 2021.
This huge amount is likely to increase if Pfizer signs additional new contracts during this year. However, the US company had estimated that the sales are subject to royalties for its German partner and a fair share of the profit earned.
In addition, it should be noted that already by the end of 2020, the use of this Covid vaccine was effective in several countries around the world. In the last quarter of 2020, sales of the vaccine were estimated at approximately $154 million.
The biopharmaceutical company Pfizer is one of the companies that regularly pays dividends to its shareholders. Here are those distributed in 2020 with the payment dates.
Pfizer also has a strong presence in the equity markets. The company is listed on the New York Stock Exchange. At the beginning of December 2020, it had a market capitalisation of $226.7 billion.
Pfizer is an American biopharmaceutical company founded in 1849 and based in New York, USA. It is recognised as the world's leading pharmaceutical company. The company's goal is to innovate to create medicines that can improve patients' lives.
The group's products include biopharmaceuticals. These include, for example, innovative medicines for the treatment of cancer and rare diseases as well as vaccines. In addition, the company is active in the manufacture of active pharmaceutical ingredients.
The company also develops generic drugs. These are used for the treatment of nervous system disorders, cardiovascular diseases, etc. In addition, the group operates in several countries. By the end of 2019, it has 49 production sites worldwide.