Stock Watch: Non-COVID-19 Vaccines Under The Pandemic
Non-Pandemic Vaccines May Bounce Back In 2022
A rebound in non-COVID-19 vaccine sales in the second year of the pandemic might have been expected but was instead muted, deferring more favorable comparisons for another year.
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Pfizer’s earnings were skewed by its coronavirus vaccine for the second quarter running while GSK’s vaccine sales were helped by the catch-up on pediatric immunization schedules. Sales of influenza vaccines may come to the fore in the second half.
Another blow-out quarter from Pfizer provided the impetus for an acquisition. But the history of recent commercial-stage biotech transactions and the risky nature of all early-stage companies suggest that the floodgates will not burst open.
A post-pandemic rebound in oncology sales contrasts with the lagging revenues of drugs administered by primary care and office-based specialists. Declining COVID-19 vaccine, diagnostic and treatment revenues could add further volatility.