Moderna Just Made the Pfizer Vaccine's Biggest Weakness an Even Bigger One
Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) have been close rivals in the COVID-19 vaccine race ever since they announced the starts of their phase 3 vaccine trials – on the very same day back in July. But Pfizer edged ahead en route to the finish line. The big pharmaceutical company scored the first FDA emergency use authorization (EUA) for a coronavirus vaccine in December.
Still, Moderna wasn't far behind – the smaller biotech company's vaccine earned its EUA only seven days later.
Since then, the two companies have continued the competition largely in tandem. So far, 49 million Americans have gotten both doses of the Pfizer vaccine developed under the code name BNT162b2, but now called Comirnaty while 40 million have completed their regimens of Moderna's vaccine, still called mRNA-1273. Both companies also are working on booster shots, and conducting the necessary clinical studies that will allow them to start inoculating kids and teens, too. But Comirnaty has one big weakness. And that weakness plus Moderna's latest news may help mRNA-1273 jump ahead.
An evolving vaccination situation
When COVID-19 vaccines first began to roll out, countries were aiming simply to vaccinate as many people as possible, as rapidly as possible. So, they ordered what was available. But as various vaccine makers continue to ramp up production and refine their offerings, countries will have more choices – and a bit more time to consider those options. This is when Moderna could take the lead.
Will this mean major market dominance for Moderna and a big loss of revenue for Pfizer? No. True, mRNA-1273 could move into the top spot due to its easier storage requirements. But if that happens, Pfizer's Comirnaty will remain close behind it. No single company can make enough doses to vaccinate the more than 7.8 billion people in the world with the necessary speed. Moderna and Pfizer each aim to produce 3 billion doses of their coronavirus vaccines next year, and each requires a person to get two doses. So even if a country prefers Moderna's vaccine, for example, it likely will still have to order some doses from another vaccine maker to cover all its citizens.
The Moderna vaccine's easier-to-manage temperature requirements won't upend Pfizer's prospects for billions in dollars of sales of Comirnaty. But this latest news is likely to lead to a boost in orders for mRNA-1273, and may significantly increase Moderna's product sales over the long term.
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