Dwindling public demand for COVID vaccines and private market pressures should combine to cost manufacturers billions of dollars once the federal government stops buying the shots.
Dwindling public demand for COVID vaccines and private market pressures should combine to cost manufacturers billions of dollars once the federal government stops buying the shots, eating into Pfizer and Moderna's pandemic profits.The federal government bought far more vaccine than Americans would ever use to ensure that vaccine would be accessible.Americans will start accessing COVID careOne of the first questions will be how much vaccine to buy, and at what price.
That will eat into Pfizer and Moderna's revenue, unless they can negotiate much higher payment rates per dose.$10.5 billion in sales for the first half of the year, and said that expected delivery of doses purchased in advance will generate $21 billion this year.that it predicts vaccine sales will generate $32 billion in fiscal 2022 and brought in $22.1 billion during the first half of the year.
Pfizer's COVID antiviral Paxlovid generated $9.6 billion in the first half and is projected to bring in $22 billion for the full year. Together, the two products accounted for well over half of the company's revenue, and Pfizer reported that its free cash flow increased by more than $19 billion over the last three years."These companies, for one, are not going to get paid for wasted doses, which they are now.
"The commercial market isn't just going to write blank checks the way the government did," Meekins added.potential U.S. sales once COVID becomes endemic.U.S. sales made up only an eighth of Pfizer's Q2 vaccine sales.Many primary series doses and boosters the government bought are going unused: Around three-quarters of the shots distributed to states during the pandemic have been administered, according to CDC data, with demand dropping over time.
Around 110 million Americans — or a third of the population and less than half of those fully vaccinated — have received a booster dose, which has been widely available to adults
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