- Pfizer falls behind in RSV rollout
- GSK needs ex-US growth
The spread of Covid-19 showed the value of being able to quickly roll out a vaccine, both in the number of lives saved and the size of the profits available. But recent earnings announcements from top drug companies raise questions about the business model in the future, as established vaccine sales fall.
Pfizer (US:PFE) slashed its full-year revenue outlook by around $10bn (£8bn), or 14 per cent, alongside a 42 per cent decline in sales in the third quarter. Meanwhile, Moderna (US:MRNA) swung to a loss and reported huge writedowns on unused stocks of its coronavirus jab. Against this ominous backdrop, GSK (GSK) has pinned its hopes for medium term growth on vaccines for other viruses.