Pfizer COVID-19 vaccine set to generate sales of $30 billion
Over a six year period, the Pfizer-BioNTech COVID-19 vaccine is expected to lead inoculation sales, generating $30 billion.
According to new reports, the COVID-19 vaccine produced by Pfizer and BioNTech, BNT-162b2, is currently projected to generate at least $30 billion in sales from 2020 to 2026. GlobalData, which released the research, said that the vaccine would peak with sales in 2021 worth $13.9 billion.
The report highlights that the Pfizer-BioNTech vaccine, a two-shot mRNA COVID-19 inoculation, is the leading prophylactic to combat COVID-19 based on forecast sales, as it is expected to be the first globally available vaccine to prevent the spread of SARS-CoV-2.
Keshalini Sabaratnam, Pharma Analyst at GlobalData, commented: “Despite being the first available vaccine, BNT-162b2’s sales are forecasted to decline by a staggering 76 percent in 2022 to $3.4 billion due to competition expected from future COVID-19 vaccine approvals. Nonetheless, COVID-19 vaccines will continue to be in demand beyond 2022 if COVID-19 turns out to be a seasonal or a long-term concern.”
The researchers say that the main challenge for BNT-162b2 is the ultra-cold storage requirement of -80°C. The vaccine is likely to suffer poor uptake in countries that have limited cold-chain logistics, whereas Moderna’s vaccine candidate mRNA-1273, which can be stored and shipped at -20°C, could be a more attractive alternative.
“Pfizer-BioNTech’s BNT-162b2 vaccine breakthrough marks a significant turning point in the global battle against COVID-19. It raises hopes that life could return to normal by next winter; however, post-marketing surveillance will be critical to detect any rare serious adverse events, as there has not yet been an mRNA vaccine that has gone through the full regulatory pathway for approval,” said Sabaratnam.