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...Shares in Pfizer, which developed a vaccine and an antiviral drug, have plummeted 46 per cent from their peak in late 2021, while its German vaccine partner BioNTech is down 75 per cent and rival Moderna...
...Health authorities had also hoped it could help sway sceptics who preferred not to receive an mRNA vaccine, though demand has since collapsed....
...Contracts were concluded with eight vaccine developers, providing as many as 4.2bn doses....
...“Comprehensive global surveillance will be essential to identify potential risks rapidly, together with continued investment in diagnostics, manufacturing and clinical development capability around the world...
...Novavax was “committed” to continuing to deliver its vaccine, she added....
...focused Novartis”....
...BioNTech has written down about €900mn on its Covid-19 vaccines because of lower than expected demand for the shots it developed with partner Pfizer....
...A group of Wall Street traders maliciously drove down the share price of a Maryland biotech with a promising new brain cancer vaccine, in pursuit of the marginal profits to be made by buying the stock cheaply...
...However, she has since struggled with weakening vaccine demand, rising retail competition and wavering consumer spending, which have also weighed on rival CVS Health....
...Sales of Covid-19 vaccines have been falling as governments work through existing supplies and contracts, and fewer people take up annual boosters....
...There’s no commercial market really for TB drugs, diagnostics or vaccines.” Thomas Breuer, head of global health at GSK, agreed....
...Vaccines received $11.3bn, compared with $6.2bn for therapeutics research and $1.3bn for diagnostics research....
...The FDA on Monday said Covid-19 vaccines “may need to be updated annually, as is done for the seasonal influenza vaccine”, unless a “markedly more virulent variant” emerges, which could require swifter action...
...This was exemplified not only in vaccines but in diagnostics that are needed to quickly identify outbreaks in order to contain them....
...The company also faces a $700mn arbitration process linked to its cancellation of a vaccine contract with Gavi, an international body providing vaccines to poor countries....
...Vaccines: approval uncertainties After three decades of development by GSK with support from global health funders, European regulators approved the RTS,S malaria vaccine in 2015....
...Eric Topol, a cardiologist who co-authored a paper on the condition in Nature Reviews Microbiology, says diagnostics are important for creating treatments, as they allow recovery to be measured....
...“By 2020 UK vaccine manufacturing had almost gone . . . while we didn’t have a diagnostics industry on any scale, which made it very hard to scale up testing.”...
...Pharmaceutical products such as medicines, vaccines and diagnostics can be protected by several types of intellectual property, including patents and trade secrets....
...Novavax’s vaccine, which uses a traditional type of technology, has been widely approved and had been seen as a desirable alternative for vaccine sceptics who preferred not to receive messenger RNA, or mRNA...
...Revenue for Pfizer’s Comirnaty vaccine and Paxlovid, an oral treatment, are expected to generate just $8bn in 2024. That compares with $57bn in 2022 and a forecast of $12.5bn for 2023....
...After raking in billions of dollars through sales of the Covid vaccine it co-developed with Germany’s BioNTech during the pandemic and seeing share prices surge, Pfizer has struggled to reorientate its pipeline...
...Founded by the Sandoz family, the business merged with Ciba-Geigy to create Novartis in 1996....
...As the rollout of bivalent boosters for Covid-19 continues, experts are concerned that the US isn’t doing enough to support the development of the next wave of vaccines and treatments that the world needs...
...Roche on Monday reiterated guidance that sales of Covid medicines and diagnostics would fall by more than a quarter to about SFr5bn this year....
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