The results of the phase III study by Pfizer and BioNTech for their corona vaccine are well received by the market. The effectiveness rate is 95 percent, the safety requirements are met. They want to promptly submit all documents for an emergency approval to the FDA in the USA and other authorities. It could be launched shortly afterwards.
In the current year 50 million vaccine doses could come onto the market, in 2021 the number could rise to 1.3 billion. You need two doses for a complete vaccination.
The analysts at Independent Research assume that the vaccine will hold its own in the market despite the coming competition.
In the model of the analysts, the spin-off from Upjohn with the merger with Mylan is also taken into account. As a result, adjusted earnings expectations per share for 2020 decrease from $ 2.91 to $ 2.63. For 2021, the forecast drops from $ 2.57 to $ 2.44.
The analysts stick to the hold recommendation for Pfizer’s shares. The price target for the papers of the Americans was so far at 40.00 dollars. It drops to $ 38.00 in today’s study.
Pfizer shares in the US rose 1.5 percent to $ 36.85 before the market.