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Moderna, Pfizer and Johnson & Johnson revealed their balance sheet as of the first quarter of 2022 and their outlook for the remainder of the year. A possible new booster dose and what happens with the COVAX mechanism will be, among others, decisive for the finances of the large vaccine manufacturers.
Although several countries have eased pandemic restrictions, even as Covid-19 cases surge, sales of vaccines and treatments remain in full swing.
US developers saw their revenues soar in the first quarter of 2022 as they investigate whether their inoculants or drugs need to keep adapting to newer virus variants.
Moderna went beyond tripling its income compared to the first quarter of 2021 and Pfizer was about to double it, while Johnson & Johnson’s rose just 5%, although the result corresponds to all its activity, of which the pharmaceutical division represents a little less than half.
In terms of profit, Moderna’s doubled and Pfizer’s rose more than 60% to $7.8 billion.. Johnson & Johnson, as a business group, reduced its profit by 17%.
Moderna forecast higher vaccine sales for the second half of the year than in the first six months, as it expects the virus that causes Covid-19 to follow a seasonal pattern that requires booster shots in the fall.
Company Chairman Stephen Hoge expects annual boosters will be needed for people at high risk of severe illness, which he estimates to be about 1.7 billion worldwide.
In this sense, Moderna forecast 21,000 million dollars in sales of vaccines against Covid-19 in 2022, but warned that the figure could be lower if the COVAX international program does not confirm a good demand for injections for low-income countries.
Pfizer, meanwhile, is sticking with its 2022 sales forecast of $32 billion after increasing it every quarter last year, a sign that breakneck sales growth has slowed.
Johnson & Johnson is not so optimistic. In mid-April, it gave up its forecast of $3.5 billion in sales of its coronavirus vaccine this year after acknowledging that it has excess stock.
Use of its injection has been weak in high-income countries, amid concerns about its effectiveness. J&J’s vaccine accounts for just 3% of all doses administered in the United States and 2% in Europe.
Due to weak demand from Europe and the United States, much of the company’s supply has been shipped to low-income countries. Because it’s a single-shot vaccine that can be refrigerated for months, many expected uptake to be higher, but its executives acknowledged that demand has been shriveling.
with Reuters
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