Pfizer reported Thursday record-high sales of $27.7 billion for the second quarter, up 47% from the same period last year on the strength of its COVID-19 vaccine and antiviral drug Paxlovid.

The pharmaceutical company reported net income of $9.9 billion, a 78% increase from the second quarter of 2021.

"In multiple meaningful ways, we made significant progress this quarter on our strategies to bring value to our patients and shareholders, while also making commitments to prioritize the broader needs of the world, including those of the environment and our most vulnerable populations," Pfizer CEO Dr. Alberta Bourla said in a statement.

Bourla said Pfizer set an ambitious goal to achieve net zero greenhouse gas emissions by 2040 and launched an initiative to help bring all of its current and future patented medicines and vaccines to the 1.2 billion people living in 45 lower-income countries "at not-for-profit prices."

Pfizer's COVID-19 vaccine generated $8.8 billion in revenue. Paxlovid brought in $8.1 billion.

The company is expecting $98 billion to $102 billion in revenue for 2022.

"I am very pleased with the performance of our business this quarter, with strong operational revenue and earnings growth driven by multiple therapeutic areas across the company, and our COVID-19 franchises continuing to serve patients in need while also propelling us to an all-time high in quarterly sales," Chief Financial Officer David Denton said in a statement.

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