Dec 14, 2020 04:15 AM EST
Pfizer stock is only 3% up since the beginning of the year and gained around 45% from its March lows. However, Pfizer could offer an upside shortly as its earnings and revenue are expected to see stronger gains.
According to Forbes, Pfizer's stock can largely contribute to the impact of COVID-19, while the comparable sales were down by 3% in the first nine months. It could also help revive demand for other pharmaceutical products. Recently Pfizer's COVID-19 vaccine was approved in the U.K., and as early as next week, the vaccination will start.
As the vaccination begins, Pfizer's sales growth will be supported and could peak sales to be as high as $3.5 billion in 2021. This would bolster the company's revenue growth rate in the near term because of its stock price growth.
Investors are counting tens of millions of iPhones sold every quarter over the past decade. Now, to a lesser degree, it is happening to Pfizer as news of potential COVID-19 vaccines seems to be a game-changer. But here are further reasons why you should buy Pfizer stock other than combating the coronavirus, according to The Motley Fool:
Pfizer has been commonly heard because of its COVID-19 vaccine developed with partner BioNTech. The vaccine uses messenger RNA(mRNA) technology and demonstrated 95% effectiveness in preventing the virus. This week, Pfizer's COVID-19 vaccine was administered to the first patients in the U.K. and has also received distribution approval in Canada.
Approvals in the United States are almost close behind after the Food and Drug Administration (FDA) confirmed the positive results on December 8. Meanwhile, people would be surprised to know that Pfizer's best-selling drug is already a vaccine. In 2019, Prevnar 13, a vaccine against meningitis, pneumonia, and ear and sinus infections, brought a $5.85 billion worth of sales.
In 2017 and 2018, it has only brought $5.6 and $.58 billion in sales, respectively. However, in the latest quarter, Pfizer's revenue was down slightly; increasing awareness of vaccines drove 14% growth in the international markets.
Read also: FDA Grants Priority Tag to Pfizer Pneumococcal Vaccine, Company Could Gain Billions in Revenue
A breast cancer treatment, Ibrance, was the company's second-best-selling product in 2019. In the said year, Ibrance brought almost $5 billion in sales, representing 20% and 59% growth over 2018 and 2017. Pfizer signed an agreement with Olema Pharmaceuticals to supply Ibrance for its clinical trials in a combination of therapy. But two other studies, if the breast cancer drug, in combination, did not indicate hurdles for effectiveness.
With approximately 59% of the world's population lives in emerging markets, the International Monetary Fund (IMF) expects it to grow 33% faster than the developed counterparts. Pfizer's geographic diversity and size will allow it to be the leading developer as the demand for life-improving pharmaceuticals increases its living standards.
Both branded and generic drugs gas this opportunity, and it is already happening in the U.S. Pfizer's overall sales fell 8.4% from 2017 to 2019. Simultaneously, its sales were flat over the same period in Europe's developed countries and the rest of the world. However, sales rose to 11.7% in the emerging markets. In the most recent quarter, Prevnar 13 and Ibrance saw international sales of up 14% and 206%, respectively.
Read also: Why a COVID-19 Vaccine Won't Be a Magic Bullet for the Economy Any Time Soon
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