Pfizer analyst says COVID-19-driven rally not backed by Vaccine Economics

The US government has the option to purchase an additional 500 million doses, the analyst said. Assuming a two-dose regimen, 600 million doses could cover more than 90% of the United States population, he said.

For Pfizer, the news of the vaccine is positive development, Meacham said.

That said, the analyst does not see that the vaccine programs are completely ruled out and is awaiting additional data as Phase 3 trials begin.

This is especially true as the company faces portfolio risks including the Ibrance adjuvant flaw, recent pipeline programs that did not depart from the competition and Eliquis’ patent flaw, the analyst said.

Pfizer shares have added about $ 30 billion in value since their recent low in June, mostly in the COVID-19 news. The valuation involves roughly 1.5 billion doses sold at a price of $ 20, Meacham said.

To justify the valuation, Pfizer may have to sell around 6 billion doses with a 50% margin, according to BofA, more than the company’s supposed number of sales-side patients treated worldwide until 2030.

In the latest control, Pfizer’s shares fell 0.18% to $ 38.49.

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