PFE & MRNA investors watching vaccine sales outlook and production expectations
The profits Big Pharma is making from COVID-19 vaccines will be revealed this week as both $Pfizer (PFE.US)$and $Moderna (MRNA.US)$report Q3 earnings. Analysts are expecting the two companies (Pfizer today, Moderna tomorrow) to disclose a collective $18B in vaccine sales, a figure which is comparable to their last two quarters - combined. Last week, $Johnson & Johnson (JNJ.US)$said it saw more than $500M in Q3 vaccine sales, nearly double the $264M it made in the first half. All eyes on Pfizer's COVID-19 vaccine business ahead of Q3 results.
Bigger picture:COVID-19 vaccine revenues are more important financially to Moderna, since the jab is its only commercially approved product. Shares also slid yesterday after the company chose to delay the filing of its Emergency Use Authorization request for use in the 6 – 11-year age group. It made the decision upon hearing that the FDA would already need additional time to evaluate the data in adolescents aged 12 to 17, meaning a review for that age category is unlikely to be complete before Jan. 2022. (Pfizer's vaccine was FDA-approved for kids last week).
Investors were also be on the lookout for comments on the vaccine sales for Q4 and 2022, as well as production expectations for younger patients and coverage for more of the globe. Other COVID drugs are also bringing in billions, like $Gilead Sciences (GILD.US)$Veklury antiviral treatment, which is administered to hospitalized patients (had sales of $1.9B in Q3). $Merck & Co (MRK.US)$also predicts its COVID-19 pill, called molnupiravir, could bring in up to $7B in sales next year if granted regulatory authorization.
Rosy sales outlook?"Starting the week of Nov. 8, the kids vaccination program will be fully up and running," White House coronavirus response coordinator Jeff Zients said in a statement. The CDC will meet today to assess approval for Pfizer-BioNTech's ( $Pfizer (PFE.US)$ $BioNTech (BNTX.US)$) vaccine for 5- to 11-year-olds and the Biden administration has already begun transferring 15M doses to facilitate immunizations at pediatricians' offices, pharmacies, hospitals and health centers. Unlike a pledge from Johnson & Johnson, both Pfizer and Moderna have chosen to profit from COVID-19 vaccine sales.
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Susan Bertolino : Pfizer’s share price is currently 24% higher than its pre-epidemic level, but since it hit a record high in August
Kieron Morley : This report focused on the mRNA based Covid-19 vaccine as a driver for profits for Pfizer and Moderna. The success of this technology is a harbinger for the development of vaccines against other virus. We have seen vaccines based on older technology are less efficacious and that can be more dangerous for a population in inducing a false confidence.