New crown rewrites the global vaccine market: Pfizer ranks first and GSK directly “lies flat”

alopah Date:2021-08-26 14:56:47
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At present, there are four leading companies of human vaccines in the world, namely GlaxoSmithKline in the United Kingdom, Merck in the United States, Pfizer in the United States and Sanofi in France. Their main business can be roughly divided into prescription drugs, vaccines and others; Pfizer and MSD have animal health business, while the other two companies have no similar business.


The new crown rewrites the competition pattern, and Pfizer ranks first


The importance of vaccines has become increasingly prominent in the current situation of COVID-19. The huge potential market of Xinguan vaccine has become the main battlefield for global vaccine manufacturers. Pfizer, Sanofi, MSD and GlaxoSmithKline are also actively engaged in the research and development of new crown vaccine, trying to get a share of the new crown vaccine market.


However, by the middle of August 2021, Pfizer had successfully developed and mass produced the new crown vaccine among the four manufacturers, and the other three were still in clinical trials, and there was no vaccine or specific drug output.


From the four giants covid-19, the vaccine business revenue can be seen, from 2018 to the beginning of the new crown, the global vaccine industry ranked first according to the vaccine business income. The first to fourth were GlaxoSmithKline, mersad and Hui Ruihe Senofi. In 2020, GlaxoSmithKline vaccine business reached US $9.54 billion, much higher than the other three manufacturers.


However, from the beginning of the epidemic to the approval of Xinguan vaccine research and development, the global vaccine industry ranking changed, Pfizer jumped to the first, followed by Sanofi, MSD and GlaxoSmithKline; Pfizer’s vaccine business reached US $14.127 billion, nearly US $5 billion higher than GlaxoSmithKline’s vaccine revenue in 2020. It can be seen that the new crown vaccine has completely rewritten the competition pattern of the global vaccine industry, and Pfizer ranks first.


The new crown rewrites the business structure, and the proportion of Pfizer vaccine business soars


global vaccine market


In the first half of 2021, except Pfizer, the performance of the three vaccine giants was not satisfactory. From the change of business structure in the first half of 2020-2021, because the new vaccine is still under development, the proportion of vaccine business of GlaxoSmithKline, MSD and Sanofi has not changed significantly, the proportion of vaccine business is about 10% – 20%, and the vaccine is not the business growth point of the three companies; Meanwhile, affected by the large demand for new crown vaccine, the proportion of Pfizer vaccine business increased from 15.69% to 42.10%.


Pfizer vaccine star product changes


From the perspective of the company’s star products in the first half of 2020-2021, GlaxoSmithKline’s main product is shinrix, which contributed more than one quarter of the vaccine revenue in 2020.


The main products of MSD in the United States are tetravalent HPV vaccine Gardasil and jiuvalent HPV vaccine Gardasil, which contributed nearly 60% of the operating revenue in the first half of 2001. It is worth noting that Gardasil and Gardasil 9 of MSD are currently the only cervical cancer prevention products in the world, and there is no substitute for them. Therefore, MSD is in a complete monopoly state, and MSD has great advantages.


Sanofi and Pfizer have relatively fewer types of vaccine products than the first two companies. Sanofi is an important manufacturer of influenza vaccine in the world, and its star products are polio vaccine and influenza virus vaccine; Pfizer’s star product is 13 valent pneumonia vaccine, which is not independently developed by Pfizer, but obtained the latter’s 13 valent pneumococcal conjugate vaccine prevanar 13 through the acquisition of Wyeth.


In terms of the proportion of vaccine star products, Pfizer’s dependence on 13 valent pneumonia vaccine before the epidemic was too high, and the sales of the vaccine accounted for more than 70%; After the epidemic, Pfizer is also highly dependent on the new crown vaccine, which accounts for nearly 80%.


Note: GlaxoSmithKline has not announced the sales of vaccine segment products in the first half of 2021. The exchange rate is converted according to the real-time exchange rate of GBP 1 = USD 1.3829.


Note: the exchange rate is converted according to the real-time exchange rate of 1 euro = 1.1772 US dollars.


Pfizer: “money ability” obtains new crown vaccine


Bnt162b2 new crown vaccine was not developed by Pfizer, but through cooperation with biontech. According to the company’s announcement, Pfizer paid biontech $185 million in advance and allocated another $563 million after the completion of vaccine development; Biontech provides mRNA technology and property rights, and Pfizer is responsible for clinical trials and distribution. The vaccine was successfully developed in December 2020 and was authorized by FDA for emergency use.


Therefore, the main product of Pfizer’s vaccine business has become bnt162b2 new crown vaccine, which contributes more than three-quarters of Pfizer’s vaccine business revenue, surpasses 13 valent pneumococcal conjugate vaccine prevanar 13, and becomes Pfizer’s most popular product at present.


It is not difficult to see that Pfizer’s layout in star vaccine products is mainly obtained through “cash ability”. Before that, it acquired prevanar 13 from Wyeth, and then biontech cooperated to develop bnt162b2. The independent R & D ability of vaccine is weak. When the weakness is very obvious, Pfizer chooses mergers and acquisitions and cooperation to make up for it, rather than strengthening its own R & D capacity, which is also the main reason why Pfizer is highly dependent on a single vaccine.


Sanofi: dual technology path common development, brewing counterattack


Sanofi still showed a relatively positive trend in the production of new crown vaccine. It cooperated with translate bio and GSK to develop new crown vaccine with mRNA and recombinant immune protein respectively, and both entered the clinical trial stage in the first half of 2021. It can be seen that Sanofi’s ambition for the new crown vaccine selects steady cooperative R & D in R & D, and the two technical paths develop together and complement each other.


It is worth mentioning that in 2015, Sanofi launched the world’s first dengvaxi dengue vaccine, but the huge R & D investment did not get due return. After the promotion of the vaccine in the Philippines, there were more than a dozen cases of severe dengue fever and even death after vaccination, resulting in heavy losses, which made Sanofi very cautious in R & D planning and investment in the future.


Therefore, Sanofi chose a more stable cooperative research and development in the research and development of the new crown vaccine. In order to be stable, Sanofi chose the recombinant immune protein vaccine with relatively mature new crown vaccine technology for research and development; At the same time, it tried to make a breakthrough. In order to counterattack Pfizer mRNA vaccine, mRNA vaccine with high technical barriers was selected for research and development.


GlaxoSmithKline: “lying flat” produces vaccine adjuvants


In terms of the layout of the new crown vaccine, GlaxoSmithKline mainly carries out the research, development and production of the most stable vaccine adjuvant.


According to the speech of Thomas Breuer, chief medical officer of the company’s vaccine, in the early stage of the epidemic, the senior leaders of GlaxoSmithKline quickly decided to layout in the company’s advantageous areas, that is, the R & D and production of vaccine adjuvants. According to the announcement on the company’s official website in May 2020, GlaxoSmithKline announced the production of one billion doses of vaccine adjuvants to support the development of a variety of new crown candidate vaccines containing adjuvants.


According to the new crown vaccine market layout after GlaxoSmithKline, the company’s business focus is on the relatively unpopular vaccine adjuvant production, and uses its own capital advantages to directly invest in the new crown candidate vaccines of other companies. The direct “lying flat” approach brings GlaxoSmithKline less operating revenue than Pfizer, but it effectively avoids the potential risk of huge R & D investment loss.


Moshadong: after several struggles, he has no choice but to devote himself to special drugs


MSD chooses to purchase directly or cooperate with others to develop candidate vaccines and specific drugs. However, from 2020 to early 2021, several attempts to develop a new crown vaccine ended in failure. As a result of successive failures, the loss of COVID-19 on Mercedes’ bets has been $493 million. In the face of huge R & D investment loss, MSD has only one choice for Xinguan specific drug, that is, to continue the clinical trial of specific drug mk-4482.


On the whole, COVID-19 has rewritten the global vaccine competition pattern. The huge market demand for new crown vaccine has attracted global vaccine manufacturers to compete, and the traditional vaccine giants are facing the risk of being surpassed by rising stars. The global vaccine competition pattern is changing rapidly. As the clinical research and development of mosadon’s new drug and Sanofi’s two vaccines are nearing the end, new changes may be seen in the second half of 2021.


investigation and research:


How will the four covid-19 vaccine manufacturers change their seats in the global vaccine market? What do you think of this?


A,Pfizer is still in the first position, Sanofi failed to fight back, and the development of MSD failed


B,Sanofi’s new crown vaccine counterattacks successfully and competes with Pfizer


C,Mosadong new crown specific drug was successfully developed, and GlaxoSmithKline slipped to the bottom

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