Washington | The two pharmaceutical giants behind the lion’s share of the world’s COVID-19 vaccines have sold more than $US117 billion ($183 billion) worth of the drugs since their first big deliveries in 2021, but face a revenue cliff as the pandemic fades into history.

Between deliveries in early 2021 to the end of June this year, Pfizer booked $US79 billion and Moderna $US38 billion from their vaccines Comirnaty and Spikevax, respectively. About 75 per cent of these total sales were to countries outside the US.