Pfizer and Moderna Could Earn $32 Billion from Sales of Covid-19 Vaccines
COVID19 sales could bring billions to both American pharmaceutical companies who developed their vaccines from mRNA technology.
The creation, authorization and distribution of vaccines against COVID-19 represents a milestone for science and humanity. However, it will also be a millionaire source of income for pharmaceutical developers, such as Pfizer and Moderna , which could earn close to $ 32 billion from the expected drug.
In 2021 alone, Pfizer is estimated to generate $ 19 billion in revenue from its coronavirus vaccine, according to Morgan Stanley. That’s in addition to the estimated 975 million they got from vaccines in 2020.
The same financial entity projects that between 2022 and 2023 Pfizer will earn about 9.3 billion dollars more for its vaccine, as mass vaccination continues among the world population. Said revenue will be split with BioNTech , the German company with which it partnered to develop the vaccine.
Pfizer’s shares are up 12% this year, while those of its partner BioNTech have soared nearly 300%. This brought the value of the German biotech company to nearly $ 30 billion.
Last Friday, December 11, Mexico became the fifth country to authorize the emergency use of Pfizer’s COVID-19 vaccine , behind the United Kingdom, Bahrain, Canada and Saudi Arabia, and only hours before it the FDA gave the green light for its application in the United States.
Before 2020, few had heard of Moderna , the young biotech company that designed its own coronavirus vaccine in just two days . Now, the value of the American pharmaceutical company is estimated at 62,000 million dollars , as its shares have soared around 700% this year. Morgan Stanley estimates that about half of the company’s market value is linked to the vaccine.
Moderna is expected to earn $ 13.2 billion in revenue from the drug in 2021 , according to Goldman Sachs. For its part, Morgan Stanley said Moderna investors expect the company to get between $ 10 and $ 15 billion from the sale of its vaccine in 2021 and 2022, and several million more in the following years.
These numbers are particularly staggering when you consider that Moderna generated only about $ 60 million in sales in 2019. The company has never licensed a product before, but its vaccine made with mRNA technology could gain approval from the Food and Drug Administration. of the United States (FDA), on December 17.
Pfizer and Moderna earnings
Pharmaceuticals Johnson & Johnson and AstraZeneca , who are also developing coronavirus vaccines, have promised that they will be available on a non-profit basis.
“It is absolutely wrong for pharmaceutical companies like Pfizer and Moderna to benefit, and for their executives to make huge personal fortunes, from the COVID-19 vaccines that have been so heavily subsidized and supported by US taxpayers ,” said Eli Zupnick, spokesman. Accountable.US, a progressive patient advocacy and advocacy group.
Pfizer said that the development and manufacturing costs of the covid-19 vaccine “have been completely self-financed, with billions of dollars already invested at risk,” read a statement published last month . “The company will continue to bear all development and manufacturing costs in an effort to help find a solution to this pandemic as quickly as possible .”
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