While the American price lists mark the umpteenth session records, sui pharmaceutical titles a real sell-off strikes, with double-digit losses for all shares in the sector. There is, however, an important exception: Pfizer, which looks down on its colleagues, reaching a 3-month high.
Let's start with the positive news. Two hours after the opening of the American Stock Exchange, the Pfizer title travels up 8,8% to 47,71 dollars per share. The purchases are driven by the preliminary results of the study on the experimental anti-Covid drug produced by the US pharmaceutical giant. Based on the data "the pill was highly effective in preventing the risk of severe Covid-19, from the need for hospitalization or death", communicates the company, specifying that the drug "reduced by about 89% the risk of hospitalization or death in study subjects with mild to moderate COVID-19 when given within three days of diagnosis. Pfizer plans to ask the FDA to authorize the drug's use as early as this month.
Pfizer's progress on the anti-Covid pill is causing suffering Merck (-9%) which will now have to beware of a fierce rival in the market for treatments against the coronavirus. The New Jersey company was in fact the first to register a pill indicated for the treatment of Covid: Molnupiravir. Not only that, two days ago, the drug also received the green light for use in the UK. Pfizer's entry into the scene, however, could upset the plans.
Let's move on to Modern. After the plunge on November 4th (-18% to 284 dollars), in today's session the stock lost 21,3% of its value, collapsing to 222,56 dollars per share. The company continues to pay for vaccine sales estimates to be cut. Moderna has in fact revised its 5 revenue forecast for the Covid vaccine downwards by about 2021 billion dollars, bringing it from 20 to 15-18 billion dollars. In this context, it should be remembered that since the highs reached last August, the stock has lost more than 63% of its value.
Rain of sales also on biotech, the German company that together with Pfizer produces one of the two mRna vaccines (the second is precisely Moderna's). On the Nasdaq, shares fell by 19,1% to 222,7 dollars per share, the lowest level since the beginning of July. In this case, according to analysts, it is a question of simple profit-taking, given that the pharmaceutical company is preparing to present record accounts. Estimates speak of quarterly revenues of 5 billion euros and an Ebit of 3,9 billion, equal to 79% of turnover. For 2021, on the other hand, total revenues of 17,1 billion are expected, an EBIT of 13,3 billion and a profit of 9,1 billion euros.
In free fall too curevac (-9,7%) And novavax (-12,5%).
