Financial Performance of Pharmaceutical Companies Producing COVID-19 Vaccines: Before and After The Pandemic

Didiek Hardiyanto Soegiantoro, Holy Rhema Soegiantoro, Gregory Hope Soegiantoro


The purpose of the study was to determine the differences in the financial performance of companies producing COVID-19 vaccines, before and after the pandemic. The method using the company's financial statement data for 2017-2021, then analyzed with the parameters current ratio, debt to equity ratio, return on assets, return on equity, and net profit margin. The study found that the company's strategic decision to develop a COVID-19 vaccine did not guarantee an increase in the company's financial performance. Moderna has focused on developing treatment with mRNA technology, so there has been a drastic change from the worst financial performance company to the best in 2021. Meanwhile, AstraZeneca has been experiencing financial difficulties since before pandemic failed to restore its financial performance profile in 2021. Pfizer, Johnson & Johnson, and Sinopharm shows a stable financial performance profile both before and after the COVID-19 pandemic.

Keywords: financial performance, COVID-19 vaccine, current ratio, debt to equity, return on asset, return on equity, net profit margin

DOI: 10.7176/JHMN/102-03

Publication date:October 31st 2022

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ISSN 2422-8419

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