5 Most Profitable Biotech Companies in the World

3. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 83

Net Income (TTM): $21.97 billion

Pfizer Inc. (NYSE:PFE) is up next on our list of the most profitable biotech firms. It was founded in 1849 by Charles Pfizer, and currently produces several medicinal products with annual revenues of more than $1 billion. The firm has shot to mainstream prominence after producing its Covid-19 vaccine in partnership with BioNTech. As of March 2022, 331 million doses of its vaccines have been administered in the United States. It pledged to manufacture 3 billion doses in total for the year of 2021, and generated $36 billion in vaccine sales for the year. Along with competitor Moderna, Pfizer Inc. (NYSE:PFE) in late March received US Food & Drug Administration Authority (FDA) approval for the second booster dose of its Covid vaccine.

As part of its strategy to solidify its leadership in drug development and discovery, Pfizer is investing $500 million towards clinical research and drug development programs through the Pfizer Breakthrough Growth Initiative. United Nations-backed Medicines Patent Pool (MPP) in March announced that 35 generic drug manufacturers around the world have agreed to produce cheap versions of Pfizer Inc.’s (NYSE:PFE) Paxlovid oral pill, which will be distributed to 95 low-income countries across the globe. The firm’s revenue for 2021 was recorded at $81.49 billion, a jump of 94.45% in comparison to 2020.

Saturna Capital, an investment firm, talked about Pfizer Inc. (NYSE:PFE) in its Q3 2021 investor letter. The fund said:

“The Fund’s strongest performer during the quarter was pharmaceutical manufacturer Pfizer Inc. (NYSE:PFE). The company submitted trial data to the FDA for use of its COVID-19 vaccine for younger children, and it is widely expected that the FDA will approve it. Health authorities also began recommending booster shots of the Pfizer vaccine for select populations, further increasing demand for vaccinations.”