{"id":134674,"date":"2021-08-09T16:39:33","date_gmt":"2021-08-09T20:39:33","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=134674"},"modified":"2021-08-09T16:39:33","modified_gmt":"2021-08-09T20:39:33","slug":"pharmaceutical-firms-rake-in-billions-with-covid-jabs","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pharmaceutical-firms-rake-in-billions-with-covid-jabs\/","title":{"rendered":"Pharmaceutical firms rake in billions with COVID jabs"},"content":{"rendered":"
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COVID\u00a0vaccines\u00a0have brought billions of dollars to the coffers of pharmaceutical companies.<\/p>

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Germany\u2019s BioNTech, maker with partner Pfizer of the pioneering mRNA jab, raised its\u00a0vaccine\u00a0revenue forecast for 2021 in its latest earnings report on Monday.<\/p>\n

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Here are the numbers for the companies that publish financial results:<\/p>

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US firm Pfizer and BioNTech got a headstart over rivals as they were the first in the western world to announce positive results from clinical trials of their\u00a0vaccine\u00a0last year.<\/p>

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They were also first to get authorisation from US and European Union regulators to sell their shot.<\/p>\n

Pfizer has earned more than its competitors, raking in $10.8 billion (9.2 billion euros) in the first half of this year.<\/p>

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The US company has raised its outlook for 2021, expecting to make $33.5 billion in sales for the full year.<\/p>\n

BioNTech reported on Tuesday revenues of $7.3 billion euros in the first half. Unlike its larger partner, the company\u2019s only product on sale is the coronavirus\u00a0vaccine.<\/p>

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BioNTech expects\u00a0vaccine\u00a0revenues to reach 15.9 billion euros for the full year, up from a previous estimate of 9.8 billion euros.<\/p>

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US startup Moderna is the only other firm to have produced an authorised mRNA\u00a0vaccine\u00a0so far.<\/p>\n

Messenger RNA technology works by providing human cells with the genetic instructions to make a surface protein of the coronavirus, which trains the immune system to recognise the real virus.<\/p>\n

Like BioNTech, the company\u2019s only product in the market is the COVID vaccine. The\u00a0vaccine\u00a0requires two shots taken weeks apart.<\/p>\n

Moderna reported turnover of $5.9 billion in the first six months of the year.<\/p>\n

It expects to make $20 billion in revenues thanks to the\u00a0vaccine\u00a0this year.<\/p>\n

British pharmaceutical giant AstraZeneca and US firm Johnson & Johnson had their\u00a0vaccines\u00a0approved by the EU later than their rivals.<\/p>\n

AstraZeneca\u2019s\u00a0vaccine\u00a0is one of the world\u2019s leading\u00a0vaccines\u00a0and has been vital in the UK\u2019s speedy vaccination drive \u2014 which enabled England\u2019s economy to fully reopen this month.<\/p>\n

But it has not been approved by US drug regulators.<\/p>\n

Johnson & Johson\u2019s\u00a0vaccine\u00a0\u2014 made by Janssen, its Belgian subsidiary \u2014 has the advantage of being administered with one shot instead of two like those of its rivals.<\/p>\n

AstraZeneca and J&J do not use mRNA technology.<\/p>\n

They both made more traditional viral vector\u00a0vaccines, which use genetically-engineered version of a common-cold causing adenovirus as a \u201cvector\u201d to shuttle genetic instructions into human cells.<\/p>\n

The two companies also vowed to sell their\u00a0vaccines\u00a0at cost during the pandemic, meaning they would not earn profits from them.<\/p>\n

They are cheaper than the Pfizer\/BioNTech and Moderna jabs, which reflects in their revenues.<\/p>\n

AstraZeneca\u2019s COVID jab generated $1.2 billion in sales in the first six months of the year.<\/p>\n

J&J reported $264 million in sales and expects to make $2.5 billion for the full year. AstraZeneca has not provided a detailed full-year estimate.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

COVID\u00a0vaccines\u00a0have brought billions of dollars to the coffers of pharmaceutical companies. Germany\u2019s BioNTech, maker with partner Pfizer of the pioneering mRNA jab, raised its\u00a0vaccine\u00a0revenue forecast for 2021 in its latest earnings report on Monday. Here are the numbers for the companies that publish financial results: US firm Pfizer and BioNTech got a headstart over rivals […]<\/p>\n","protected":false},"author":3,"featured_media":134675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-134674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional"],"yoast_head":"\nPharmaceutical firms rake in billions with COVID jabs - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/pharmaceutical-firms-rake-in-billions-with-covid-jabs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pharmaceutical firms rake in billions with COVID jabs\" \/>\n<meta property=\"og:description\" content=\"COVID\u00a0vaccines\u00a0have brought billions of dollars to the coffers of pharmaceutical companies. Germany\u2019s BioNTech, maker with partner Pfizer of the pioneering mRNA jab, raised its\u00a0vaccine\u00a0revenue forecast for 2021 in its latest earnings report on Monday. 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