Pfizer, Moderna and Other Drugmakers Make Billions Responding to Covid-19 Pandemic

Healthcare companies that came up with effective Covid-19 vaccines, treatments and tests are seeing a huge financial payoff and are starting to spend their cash, while grappling with questions about whether the growth is sustainable. Companies including Pfizer Inc. and Moderna Inc. so far have reported at least $79 billion in combined global sales of Covid-19 vaccines and treatments for 2021, according to a Wall Street Journal review of recent earnings reports. Diagnostic sales also have been strong for companies including Abbott Laboratories, which had $7.7 billion in Covid-19 test sales last year. It’s a market that didn’t exist prior to the pandemic. Many companies attempted to find pandemic countermeasures during 2020 but only some were successful.