BioNTech and Moderna stocks were up in early trading following the FDA authorizing Covid-19 booster shots for people with weak immunity.
BioNTech was up 3% and Moderna gained 3%, while Pfizer , which has jointly developed the two-dose mRNA vaccine with BioNTech, was up 2%.
Late on Thursday, the U.S. Food and Drug Administration authorized a booster doseof vaccines from Pfizer Inc(PFE.N)and Moderna Inc(MRNA.O)for people with compromised immune systems.
Pfizer, along with its German partner BioNTech , and Moderna have together locked up over $60 billion in sales of the shots just in 2021 and 2022. The agreements include supply of the initial two doses of their vaccines as well as billions of dollars in potential boosters for wealthy nations.
Going forward, analysts have forecast revenue of over $6.6 billion for the Pfizer/BioNTech shot and $7.6 billion for Moderna in 2023, mostly from booster sales. They eventually see the annual market settling at around $5 billion or higher, with additional drugmakers competing for those sales.
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