Wall Street predicts Pfizer and Moderna will rake in $32 BILLION in COVID-19 vaccine sales in 2021 alone – while Johnson & Johnson and AstraZeneca vow to distribute their jabs at no profit
- Analysts project Pfizer and Moderna will rake in a combined $32 billion next year
- That is on top of an estimated $975 million in 2020 vaccine revenue for Pfizer
- It will be a major coup for Moderna which had just $60 million in sales last year
- Johnson & Johnson and AstraZeneca have vowed not to profit from vaccine
Pfizer’s vaccine, which passed a key FDA panel on Thursday, is expected to bring in $19 billion in revenue in 2021, on top of an estimated $975 million this year, according to Morgan Stanley.
Goldman Sachs estimates that Moderna will make $13.2 billion in vaccine revenue next year, according to CNN. It is a staggering sum for the previously little-known company that had just $60 million in sales last year and has never licensed a product.
Meanwhile, Johnson & Johnson and AstraZeneca, which have vaccines in the trial phase, have both vowed to provide their vaccines at no profit once approved.
Pfizer is expected to make $19 billion in revenue in 2021, but the company’s shares have barely budged since the beginning of the year because it is already so big
Wall Street analysts have projected that Pfizer and Moderna will rake in a combined $32 billion next year from the sale of COVID-19 vaccines
Though Pfizer was the first company to secure regulatory approval for its vaccine, the company’s stock has barely budged.
That’s because the pharmaceutical giant is so big that the vaccine breakthrough represents a small slice of its overall revenue, which last year totaled $52 billion.
Pfizer will also share 50 percent of all vaccine revenue with German partner BioNtech, which collaborated on developing the vaccine.
The US-listed shares of BioNtech, a much smaller company that had just $100 million in revenue last year, have soared some 300 percent this year on the breakthrough.
Likewise, Moderna shares are up a staggering 700 percent from the beginning of the year, with investors hoping the company’s mRNA technique will pave the way for even more vaccines.
On Thursday, a panel of 23 independent scientists voted in favor of the Pfizer vaccine and recommended it to the FDA after a day of long, drawn-out talks over whether or not it is safe.
The US-listed shares of Pfizer partner BioNtech, a much smaller company that had just $100 million in revenue last year, have soared some 300 percent this year on the breakthrough
Likewise, Moderna shares are up a staggering 700 percent from the beginning of the year
The FDA is expected to approve Pfizer’s jab tonight after completing final paperwork.
The FDA released a statement on Friday morning claiming it was working to approve the vaccine quickly.
‘Following yesterday’s positive advisory committee meeting outcome regarding the Pfizer-BioNTech COVID-19 vaccine, the U.S. Food and Drug Administration has informed the sponsor that it will rapidly work toward finalization and issuance of an emergency use authorization.
‘The agency has also notified the U.S. Centers for Disease Control and Prevention and Operation Warp Speed, so they can execute their plans for timely vaccine distribution,’ Commissioner Steve Hahn said in a statement on Friday morning.
The first doses of the vaccine could be distributed as soon as this weekend. Each state will decide how to prioritize initial doses of the shot, with most focusing on heathcare workers and nursing home residents as the top priorities.
CVS plans to give first doses of Pfizer’s coronavirus vaccine to nursing patients on December 21
CVS expects to administer the first Pfizer’s COVID-19 vaccine to residents of long term care facilities on December 21, followed by shots from Moderna about a week later, an executive at CVS Health told Reuters.
Pfizer and BioNTech could receive emergency authorization for their COVID-19 vaccine from regulators as soon as Friday. Moderna’s regulatory process is about a week behind.
An FDA advisory committee recommended on Thursday that the agency give emergency approval to Pfizer’s shot – but the FDA has yet to sign off and Health and Human Services (HHS) Secretary Alex Azar said Friday it could take ‘a couple of days.’
Officials have said that Pfizer and the U.S. government will begin distributing the shots within 24 hours of receiving a regulatory green light and hospitals are planning to give healthcare workers the first shots early next week.
It will be a tight timeline to meet the expectation set by CVS. General Gustave Perna, co-head of Operation Warp Speed said the U.S. would have ‘shots in arms’ within 96 hours (four days) of the FDA’s authorization.
That means that the FDA would need to authorize Pfizer’s shot by next Thursday, when its committee will meet to discuss Moderna’s shot.
In order to distribute that vaccine in time to give it to nursing home residents by December 28, the FDA will need to authorize it by Christmas Eve – a week after the meeting.
CVS expects to receive its first Pfizer dose allotment toward the end of next week but will wait until December 21 to give shots to comply with regulators, said Chris Cox, senior vice president at CVS Health.
He said U.S. officials want to give administrators of shots to nursing homes time to review information documents about the shot and get waivers from nursing home residents and their families.
Some states are opting to use Moderna’s COVID-19 vaccine to inoculate their nursing home residents rather than the Pfizer shot, he added, saying that earliest date that CVS can administer Moderna’s shots to nursing home residents is December 28.
Moderna has applied for emergency authorization and is expected to receive it soon after a meeting of advisors to the U.S. Food and Drug Administration on December 17.
CVS and Walgreens Boots Alliance, which run the nation’s largest pharmacy chains but also offer other off-site pharmacy services, have an agreement with the federal government to vaccinate nursing home residents across the country through a voluntary program.
Cox said he believes all states have opted into the federal program at this point and that CVS is working with 8,000 skilled nursing facilities nationwide.