As the US government prepares to authorize immediate distribution of Covid-19 vaccine, Wall Street analysts are projecting pharmaceutical companies Pfizer and Moderna will generate $32 billion in Covid-19 vaccine revenue, next year alone.
According to Wall Street analyst, Morgan Stanley, Pfizer (PFE) by itself is projected to make $19 billion in Covid-19 vaccine revenue in 2021, that doesn’t include an estimated $975 million in 2020 vaccine revenue.
Pfizer is expected to take in $9.3 billion more in combined Covid-19 vaccine revenue in 2022 and 2023 as the world continues to get vaccinated, Morgan Stanley also projected.
Pfizer will share its revenues with BioNTech (BNTX), the German pharmaceutical company it partnered with to develop the vaccine.
The Pfizer vaccine was already authorized by the UK earlier this month and now a panel of US Food and Drug Administration (FDA) advisers recommended on Thursday,December 10, that the FDA grant emergency use authorization to the…
Source: Linda Ikeji