mRNA COVID-19 Vaccine Revenue Declines 88%

Pfizer Inc. today reported $354 million in Comirnaty® vaccine revenue in Q1 2024, marking an 88% drop from the previous year's Q1.

On May 1, 2024, Pfizer explained this decrease was driven largely by lower contractual deliveries and demand in international markets and lower U.S. volumes, reflecting the anticipated seasonality of demand for vaccinations and as certain markets, including the U.S., transition to traditional commercial market sales.

Dr. Albert Bourla, Chairman and Chief Executive Officer, stated in a press release, "We delivered strong performance in our non-COVID product portfolio in the first quarter of 2024, including increased revenue from several of our recent commercial launches and acquired products, as well as robust year-over-year growth for several key in-line brands."

"Our Paxlovid® revenues in the quarter indicate a successful transition into the commercial marketplace in the U.S. and a demonstrated trust in the brand."

"Overall, I am encouraged by a well-executed quarter, setting the tone for the year. Pfizer's commercial leadership is focused on data-driven opportunities across several key growth brands, both in the U.S. and internationally, and we intend to build on this positive momentum in the quarters ahead."

Results from a recent survey published by the journal Nature indicate this negative trend may continue in 2024.

On April 29, 2024, this survey in 23 countries was taken in October 2023. t found a lower intent to get a COVID-19 booster vaccine (71.6%) compared with 2022 (87.9%).

Trust in vaccine information sourced each averaged less than 7 on a 10-point scale with one’s own doctor or nurse and the World Health Organization, averaging 6.9 and 6.5, respectively.

'Our findings emphasize that vaccine hesitancy and trust challenges remain for public health practitioners, underscoring the need for targeted, culturally sensitive health communication strategies,' wrote these researchers.