Pfizer is pinning a lot of hope on its COVID-19 vaccine, and they are already targeting younger people with an eye on increasing their profits.
Earlier this week, they released a strong earnings report that exceeded the already optimistic projections from Wall Street. They also announced that they are on the verge of gaining regulatory approval to give their vaccine to minors aged 12 to 15 in the U.S. This coincides with the Biden Administration’s increasing pressure on states to raise their vaccination numbers.
Media reports have also indicated that Pfizer is looking to gain approval to use the vaccine on children aged 2 to 11 in the U.S. and Europe. It is believed that this approval could come in September, despite the fact that there have been no studies carried out into the long-term effects of the vaccines on either adults or children.
Pfizer CEO Albert Borland stated in a call with reporters and analysts that the pharmaceutical firm is in discussions with what he termed “basically all the governments of the world” to provide COVID-19 vaccines and booster shots through the year 2024.
Indeed, they have already laid the groundwork for a steady stream of revenue by telling the public that they will likely need at least one additional shot a year after their second dose. He also mentioned that people around the world may end up needing yearly shots, much like the flu shot, which would help Pfizer to grow its bottom line and shift COVID-19 vaccines from an emergency measure to a permanent and highly profitable line of business.
Pfizer has said that they expect sales of their vaccines to reach $26 million by year’s end. This would make the shot their top-selling pharmaceutical product, an honor that currently goes to the rheumatoid arthritis drug Humira. In addition, they are planning to use the mRNA technology behind the COVID-19 vaccine for other types of vaccines and therapies. They are already trying to develop seasonal flu shots based on the RNA lipid nanoparticle technology.
In addition, they are exploring making COVID-19 vaccines more durable by finding ways that doses can be stored at the temperatures seen in a standard refrigerator, which is something that could raise demand for the jabs in poorer countries. Either way, however, Bourla is expecting the vaccines to have a “durable demand”.
Business is booming for Pfizer thanks to coronavirus
The virus is working out incredibly well for Pfizer, whose earnings were so strong that they also helped lift the shares of other vaccine makers around the world. For example, shares of Asian vaccine makers who had deals to distribute the Pfizer vaccines rallied this week. India’s Pfizer Ltd unit climbed 4.9 percent on Wednesday, while Cadila Healthcare and Dr. Reddy’s rose 5.9 and 2.7 percent respectively.
Once again, we see pharmaceutical companies raking in money at the expense of the public. Now that many of the people who were inclined to get the vaccine have already done so, they are going to start pressuring parents into having their kids vaccinated, despite the fact that children are not being hit by the virus nearly as hard as adults. They are also doing this in the absence of studies demonstrating its safety in any age group.
The truth is that no one knows yet how this vaccine can affect anyone over the long term, particularly children whose bodies are still developing. But that’s not really a big concern for Pfizer or any of the other COVID-19 vaccine makers as they have all been granted immunity from liability should their vaccines cause people harm or kill them – which they are already doing in droves.
Sources for this article include: