The vaccines against COVID-19 that have been created, authorized, and are planned to be distributed have represented a milestone for science and humanity. The companies that have developed these vaccines—Pfizer and Moderna are supposed to be gaining close to $32 billion from the expected drug.
The revenue details that soared the shares
It has been estimated that Pfizer would generate $19 billion in revenue alone in 2021 with the help of its coronavirus vaccine. The vaccine developed in 2020 got $975 million to the company.
Due to the mass distribution of the vaccine globally, it is anticipated that Pfizer will earn about 9.3 billion dollars in 2022-23. It is projected that this revenue will be shared with the German company—BioNTech which is associated with Pfizer to develop the vaccine.
2020 has been a fruitful year for both companies. During this year, the shares of both companies have risen. Pfizer’s shares are up by 12% and its partner BioNTech has soared nearly to 300%. This in turn has brought BioNTech to nearly $30 billion.
The emergency usage of Pfizer’s Vaccine
Mexico became the fifth country to approve the emergency utilization of Pfizer’s COVID-19 vaccine. Along with Mexico, the other countries to include this coronavirus vaccine are the United Kingdom, Bahrain, Canada, and Saudi Arabia.
Before the development of the COVID-19 vaccine, people were not aware of Moderna. However, the vaccine race has brought this company into the limelight. Moderna earned only 60 million dollars in the year 2019. Currently, this American pharmaceutical company is estimated to be at 62,000 million dollars. It is also expected that the shares would rise to 700% as the company would earn $13.2 billion in revenue by the vaccine in 2021.
Moderna has never licensed a product before. Though the vaccine is made by the mRNA technology, it gained the approval of the FDA of the United States in December.