Pfizer to Announce a Record $80 Billion in Revenue Amid Layoffs in Sales Force

Pfizer is expected to announce record revenue of more than $80 billion for 2021 on robust sales of the COVID-19 vaccine it developed with BioNTech and its oral COVID-19 treatment, Paxlovid, both of which are being sold directly to governments.

This is almost double Pfizer’s total revenue in 2020 of $41.9 billion.

At the same time, the company is planning layoffs among its sales force as many doctors move to online appointments and aren’t in the office to see pharma sales reps.

“We are evolving the way we engage with healthcare professionals in an increasingly digital world,” said Pfizer CEO Albert Bourla. The company has not yet said how many people it will lay off.