Pfizer CEO says company will produce 4 billion COVID-19 doses in 2022
Global pressure on just a handful of companies producing COVID-19 vaccines was not the anticipated scenario for fall of 2021. But a series of unfortunate events — including the failure of some vaccine companies to create or up production and the surge of the Delta variant — have resulted what health equity advocates have long feared: unequal distribution of vaccines among rich and poor countries.
Pfizer (PFE) CEO Albert Bourla told Yahoo Finance the company realized the need and more than doubled its projected output for 2021 as a result.
"We changed, dramatically, our strategy. We had invested to produce 1.3 billion doses for 2021, when we realized the situation, we put way more investments into the system and we were able to raise the volumes to 3 billion for this year, and 4 billion for next year," Bourla said.
The company is also working on a possible treatment for the novel coronavirus. "I keep my fingers crossed that the studies will be positive, and I hope we'll be able to know if the studies are positive before the end of the year," he said.
Pfizer was the first company to receive authorization as well as full approval for adults in the U.S. for its COVID-19 vaccine. It also has a booster dose authorized for certain segments of the population. This action has been criticized by some as doses that are being taken away from the poorer global populations.
The company, along with rival Moderna (MRNA), has come under increased pressure by global advocacy groups to produce and donate more doses to the world instead of focusing on boosters in rich countries.
The U.S. has promised more than 1 billion doses of COVID-19 vaccines globally, of which about 200 million have been shipped to-date. But experts say more doses are needed.
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