Wall Street projects 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
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.
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.