Pfizer Stock Price Forecast
Rival pharmaceutical companies are commencing what is expected to be one of the bloodiest confrontations in the market as they attempt to challenge Pfizer Inc.’s hegemony over the $7 billion global market for pneumonia vaccines.
Merck & Co. has already launched a new rival to Pfizer’s Prevnar vaccine line, and businesses like GSK PLC and Vaxcyte Inc. are also working on vaccines that aim to increase sales by providing protection against more strains of the pneumococcal virus.
The businesses are vying for a slice of the lucrative market that Pfizer has controlled for more than a decade and which Wall Street analysts predict could exceed $10 billion annually by 2028.
Louise Chen, an analyst at Cantor Fitzgerald & Co., described the situation as “kind of an all-out war to see who can obtain this $10 billion that’s out there on the table.”
After Covid-19 shots generated tens of billions of dollars in sales for Pfizer ( NYSE:PFE ) and Moderna Inc., the race is a further indication of the pharmaceutical industry’s rekindled interest in vaccines.
For a variety of viral diseases, including the respiratory syncytial virus, businesses are already developing vaccines. To enhance flu and other vaccinations, some are also experimenting with messenger RNA or other cutting-edge technologies.
Since entering the market in 2010 with its $68 billion acquisition of Wyeth and its flagship product Prevnar, Pfizer has dominated pneumonia, or pneumococcal, vaccination market.
Before the pandemic struck, Prevnar was Pfizer’s best-selling medicine for a number of years, and sales of the Covid-19 vaccine, which the company co-developed with BioNTech SE, led the industry. Prevnar achieved $5.3 billion in sales last year.<...
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