Pfizer and Moderna might earn $ 32 billion from gross sales of COVID-19 vaccines
Both American pharmaceutical companies have developed their vaccines from mRNA technology and will earn millionaires for their creations.
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December 13, 2020 5 min read
This article was translated from our Spanish edition using AI technologies. Errors can occur due to this process.
The creation, approval and dissemination of vaccines against COVID-19 is a milestone for science and humanity. However, it will also be a source of income for millionaires for drug developers like Pfizer and Moderna, who could make nearly $ 32 billion from the expected drug.
In 2021 alone, Pfizer will generate $ 19 billion in sales with its coronavirus vaccine, according to Morgan Stanley. That is on top of the estimated 975 million they received from vaccines in 2020.
That same financial entity estimates Pfizer will earn about $ 9.3 billion more on its vaccine between 2022 and 2023 as mass vaccination continues among the world’s population. These revenues will be shared with BioNTech, the German company it worked with in developing the vaccine.
Pfizer’s shares are up 12% this year, while its partner BioNTech’s shares are up nearly 300%. The value of the German biotech company amounted to almost 30 billion US dollars.
Last Friday, December 11, Mexico became the fifth country to approve Pfizer’s emergency use of the COVID-19 vaccine after the UK, Bahrain, Canada and Saudi Arabia. Just hours earlier, the FDA gave the go-ahead for use in the United States.
The @COFEPRIS as a decentralized body dependent on @SSalud_mx with administrative, technical and operational autonomy, which among other things is responsible for the approval of health care, announces the following: https://t.co/ldV2rvYIOr pic.twitter.com / 852oHE3ny3
– COFEPRIS (@COFEPRIS) December 12, 2020
Moderna, which benefits the most from its SARS-CoV-2 virus vaccine
Before 2020, few had heard of Moderna, the fledgling biotech company that developed its own coronavirus vaccine in just two days. The American pharmaceutical company is now valued at $ 62,000 million, as its shares are up around 700% this year. Morgan Stanley estimates that about half of the company’s market value is related to the vaccine.
Moderna is expected to generate $ 13.2 billion in sales for the drug in 2021, according to Goldman Sachs. Morgan Stanley said Moderna investors expect the company to raise between $ 10 billion and $ 15 billion in sales of its vaccine in 2021 and 2022, and millions more in the years that follow.
These numbers are especially astonishing when you consider that Moderna only had sales of about $ 60 million in 2019. The company has never licensed a product, but its vaccine made using mRNA technology could be approved by the Food and Drug Administration. of the United States (FDA) on December 17th.
We just announced that the U.S. government has exercised the first option for an additional 100 million doses of our COVID-19 vaccine candidate, which will be delivered in the second quarter of 2021. Read more: https://t.co/zxznonNRek pic.twitter .com / l2Cs0qYZcM
– Moderna (@moderna_tx) December 11, 2020
The results of Pfizer and Moderna are not without controversy
Pharmaceuticals Johnson & Johnson and AstraZeneca, which are also developing coronavirus vaccines, have promised that they will be available for nonprofit.
“It is absolutely wrong that drug companies like Pfizer and Moderna are benefiting from the COVID-19 vaccines that have been so heavily subsidized and supported by US taxpayers and that their executives make great personal fortunes,” said Eli Zupnick, spokesman. Accountable.US, a progressive patient advocacy and advocacy group.
Pfizer said the cost of developing and manufacturing the Covid-19 vaccine “was entirely self-funded and billions of dollars are already at risk,” it said in a statement released last month. “The company will continue to bear all development and manufacturing costs to find a solution to this pandemic as soon as possible.”
With information from CNN in Spanish.