- Pfizer Inc PFE and BioNTech SE BNTX announced a new COVID-19 vaccine supply agreement with the U.S. government.
- SVB Leerink says that the new contract implies the price per Comirnaty dose is ~$30.50.
- Comirnaty U.S. pricing per dose has increased from $19.50 (2020 contracts), to $24 (+23%; 2021 contract), and now to ~$30.50 (+27%).
- The analysts raised FY22 comirnaty sales estimate to $35 billion from $33 billion, with Pfizer's price target unchanged at $55 and maintaining a Market Perform rating.
- SVB forecasts Q3 sales of $2 billion, up from the prior outlook of $1.3 billion, and raising Q4 estimate to $2.1 billion from $1.5 billion.
- "The contract size (105 million and up to 300 million) and 27% price bump supports Pfizer's plan to raise vaccine prices coming out of the pandemic," SVB notes.
- At the $30.50 price, another 195 million doses would imply $5.9 billion in additional revenue. These additional doses could also cover each of those individuals for another booster in 2023 and cover the roll-out of the primary series for children under five.
- Price Action: PFE shares are up 3.31% at $52.64 during the market session on the last check Thursday.
- Photo by x3 from Pixabay
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.