BioNTech SE (NASDAQ: BNTX) and Pfizer Inc. (NYSE: PFE) have announced that they will postpone the supply of COVID-19 vaccines to the EU by three months as the organisation plans a booster campaign that will take part in the fall.
The companies had initially planned to deliver the vaccines from June to August. However, this change indicates that they will deliver them between September and the fourth quarter of 2022. Stella Kyriakides, a health commissioner for the EU, states that this move will allow the commission to meet supply and demand and ensure countries in the EU get the vaccine when they might need them most.
Pfizer booster fades after a few weeks
The decision to develop the vaccine could benefit the company as a new study has shown that its booster vaccine gives limited protection from Omicron. Its efficacy fades a short time after administration.
This news isn’t good as the rise of infections has been attributed to the variant. The study shows that participants who had received the vaccine experienced a decline in antibodies in a few weeks.
Pfizer and BioNTech are also testing for vaccine versions that protect against the omicron variant. If they find a vaccine by the summer or winter, the EU will have access to an adapted vaccine. Fortunately, the companies have stated that this won’t affect their revenue outlook for 2022.
The FDA could approve a booster for children
Meanwhile, the Food and Drug Administration (FDA) could approve a booster shot for children between 5 and 11. The decision could come as good news for New York, which is approaching high-risk status prompting health officials to ask residents to wear masks indoors.
Pfizer had also outperformed the Zacks Large-cap pharmaceutical industry partly due to the company’s drug portfolio, which includes Ibrance and Prevnar. Zack states that Pfizer is the strongest company in the market for COVID treatment and vaccines.
Pfizer has been a leading contributor to the pharmaceutical industry since it created its vaccines. Moreover, the company has developed Paxlovid, an oral COVID-19 pill which has shown high efficacy against the disease. Pfizer could generate $54 billion from the sale of its vaccines and Paxlovid.