Pfizer is at a crossroads. The American pharmaceutical company must decide which direction to take after the UN announced the end of the global health emergency, leading to the epilogue of the coronavirus pandemic. The demand for its vaccine, developed together with BioNTech, has dropped significantly and this has been noted in the company’s income statements. In the first half of 2023, Pfizer’s revenues have fallen by 79% -about 16,000 million dollars- to place the final balance at 4,150 million.
Pfizer’s vaccine against the coronavirus has not been the only one of its products that has given it bad economic news. The income generated by Paxlovid, the antiviral pill that was presented as one of the main weapons to prevent the disease from becoming complicated and hospitalizations, has experienced a 56% drop so far this year, going from 6,520 million to 3,840 million in income.
Aware of this downward trend, Pfizer is defining the strategies that allow it to overcome the financial setback two years after the pandemic. One of the initiatives that it is considering is the acquisition of products or companies that can alleviate the decrease in its income, not only from the vaccine but also from other medicines, according to The Economist.
But, instead of launching into the massive purchases of companies, which has allowed the pharmaceutical company to diversify and strengthen its therapeutic portfolio, Pfizer has decided to implement a very different strategy. Now, he looks at smaller companies, but with promising research portfolios.
In the last decade, Pfizer has rocked the industry with notable acquisitions, such as the merger with Allergan in 2015, valued at 150,000 million, and the creation of Viatris, the result of the union of Mylan and Upjohn. Not long ago, the American pharmaceutical took over Seagen for 40,000 million and The Global Blood Therapeutics for 5,295 million.
Pfizer’s future plans
Pfizer has ambitious plans for the future. The company plans to launch a total of 19 products and indications over 18 months, 11 of which are already on the market. Among all of them, its serum against Respiratory Syncytial Virus stands out, which has obtained approval from both the European Medicines Agency and the Food and Drug Administration. This approval positions Pfizer to lead a market valued at 9,000 million euros by the year 2030.
2023-08-18 01:58:31
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