VIR - COVID-19 sales boom for vaccine and drug makers might be over - analysts

As the demand dries up and the pandemic evolves, Wall Street projects the sales for COVID-19 vaccines and therapeutics to plateau amid ample supplies while companies continue to assess the outlook. “This year is probably the peak, then going forward, it’s going to decline,” The Wall Street Journal reported Tuesday citing Cantor Fitzgerald analyst Louise Chen who added: “The question is how much?” Pharma giants, Merck (MRK) and Johnson & Johnson (JNJ) have already cut the sales forecasts for their COVID-19 products while vaccine makers Moderna (MRNA) and Pfizer (NYSE:PFE) has reiterated their projections. The analysts attribute the cloudy outlook to factors such as slowing demand and adequate supplies in many countries. Meanwhile, people have opted for boosters at a lower rate than they received initial vaccine regimens further crippling the demand. The demand for drugs has declined partly because vaccine-driven protection has enabled many to avoid illnesses requiring therapeutics

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COVID-19 sales boom for vaccine and drug makers might be over - analysts