How Vaccine Cash Could Fuel Pfizer's Future Growth
Thanks to the success of its COVID-19 vaccine, Pfizer (NYSE: PFE) more than doubled its cash hoard in 2021. The drugmaker plans to use that cash pile to ramp up M&A and fuel growth through 2030, with a few acquisitions already under its belt -- and plenty more cash left to invest. Here's how the company's big plan might play out.
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In 2021, sales of Pfizer's COVID-19 vaccine, Comirnaty, totaled $36.8 billion -- just under half of the company's overall annual revenue. That helped the company's cash and short-term investments swell from $12.2 billion at the end of 2020 to over $31 billion at the end of 2021 .
Source Fool.com
