Johnson & Johnson's expecting $3.3 billion worth of vaccine sales this year. Pretty good - but nothing compared to Pfizer...
Background: Johnson & Johnson was founded in 1886 would ya believe?! They develop medical devices, pharmaceuticals, and consumer goods.
What happened: In March this year, Johnson & Johnson rolled out its COVID vaccine across America. And now, they're expecting $3.3 billion of vaccine sales this year. Pretty good - but nothing compared to Pfizer's $44 billion of expected COVID vax sales.
What else: J&J has been selling its vaccine at not-for-profit pricing of ~$10. But they will start 'commercial' pricing of their COVID vax by the end of this year and chase a bigger piece of the total addressable market.
💡Total addressable market, or TAM, describes the size of a revenue opportunity for a product or service. It’s kind of like a quick way to measure an opportunity's potential.
💡The total addressable market for ...say… COVID vaccines is pretty much the entire world. And that's a laaarge market to be going after.
💡 With booster shots expected, a pricing increase and sales in new regions, it's not surprising that J&J has increased its profit forecast for next year.
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