The deep decline in vaccine sales
Global stay-at-home orders stemming from the coronavirus pandemic — especially those in the U.S. — have led to steep sales declines in routine vaccinations.
The big picture: Although more people are getting their vaccines now, "there remains some way to go to get back to pre-COVID levels for adult vaccinations," GlaxoSmithKline CEO Emma Walmsley said on an investor call Wednesday.
By the numbers:
- Sales of GlaxoSmithKline's vaccines in the second quarter plummeted 29% from the same period in 2019, totaling £1.13 billion.
- Pfizer's vaccine sales fell 9% to $1.25 billion. The drop was especially severe in the U.S. for Pfizer's main vaccine, Prevnar 13, due to the "unfavorable impact of disruptions to wellness visits," the company said.
- Sanofi said its vaccine sales slumped 7% to €927 million because of the "global confinements."
- Merck will report its second-quarter results on Friday. Wall Street expects Merck's vaccine sales dropped 26% year over year.
Yes, but: The major vaccine manufacturers said uptake was rising a lot in Europe and developing countries.
- But global sales dragged because of the shutdowns in the U.S., where drug companies charge the highest prices in the world.