Is Pfizer Stock a Buy?
Pfizer Inc the stock is now garnering attention from across the globe regarding its coronavirus vaccine development.
CEO Albert Bourla recently stated that a coronavirus vaccine could be distributed before the end of 2020.
The efficacy of the vaccine can be determined by the end of the year, following which mass production and distribution would begin. Apart from COVID-19, PFE has a number of candidates for other diseases in its pipeline.
By 2025, PFE is expected to get approval for 6 diabetic medicines, 6 vaccines, 12 autoimmune drugs, 3 gene therapies and 14 cancer treatments, which would contribute more than $15 billion to its annual revenue. The companies have said they expect initial data in October, and say they could get Emergency Use Authorization this year. They're ramping manufacturing and say they could have 100 million doses of their vaccine before year-end.
On Oct. 6, Pfizer and BioNTech announced they began a "rolling submission" to the European Medicines Agency for emergency approval of their vaccine.
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