- Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ: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
