US drugmaker Pfizer and the German biotech firm BioNTech could rake in almost $13 billion in global sales from the coronavirus vaccine next year, according to US investment bank Morgan Stanley.
No other company has yet made similar claims about its effectiveness.
“We are a significant step closer to providing people around the world with a much-needed breakthrough to help bring an end to this global health crisis,” Pfizer chairman Albert Bourla said.
Pfizer is set to profit from the lifesaving vaccine as a commercial opportunity alongside BioNTech. The multibillion-dollar fortune would be split evenly between the drugmaker and the biotech firm, according to analysts.
Pfizer’s half would be more than its best-selling product, a pneumococcal vaccine, which brought in around $5.8 billion last year, the Guardian reports.
The pharmaceutical company has agreed to supply the vaccine to the US for $19.50 per dose – a two-shot course would be priced at $39.
Meanwhile, the EU has ordered 200 million doses while the UK has ordered 40 million doses.
Pfizer turned down government funding, choosing to use $2 billion of its own money instead to develop the vaccine without US government-backed research funds.
Rival US drugmaker Johnson & Johnson, along with AstraZeneca, is developing a coronavirus vaccine in partnership with Oxford University. They have both pledged to make their vaccines available on a not-for-profit basis during the pandemic.
This comes as the world’s most respected infectious disease experts hinted that people could begin receiving the first COVID-19 vaccine as early as 2021.
Dr Anthony Fauci, the US government’s top infectious diseases expert, said Americans could begin receiving a coronavirus vaccine within the “first four months” of 2021 in a move that has been described as a “game changer”.
“If you hear something is 90 to 95 per cent effective, you’re more likely to get vaccinated,” Dr Fauci told CNN.