COVID-19 Pandemic: Transmissions, Deaths, Treatments, Vaccines, Interventions and More...
- Thread starter Richie O
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#’s guy Lowe did say Pfizer would be his best bet at who wins out, given the current data
+1
Pharma will save the day!
What's interesting is didn't Pfizer first turn down government funding because they didn't want to have to answer to them? I wonder what changed their minds.
$2 billion! Some of you thought Pfizer wasn't in it for the money. You were only off by $2 billion!
I liked your post because the childish back and forth of whose fault is is just not something I want to be a part of.
But I think I disagree on how everyone has done a terrible job. Handling of Covid was never going to go smoothly in this country no matter who was in charge. The fact that we haven't dealt with something like this in a century, plus the freedoms which we enjoy and don't want to give up, plus, and this relates to my point above, the political divide in this country, this was just always going to be a rough road.
Now we do need to learn from this. In some ways we clearly have, ie masks, the ability to test, less hand shaking, etc, so we will be in a better position next time, in other ways, ie the political divide, we are not improving at all.
I don't think Pfizer is taking money here. The gov't is just going to help in production for when the vaccine is ready.
I'm not sure Pfizer benefits very much directly from this. But what it does is provide them a ton of goodwill and notoriety if they do produce a working vaccine.
$20 bucks a shot. Is that alot?
I certainly didn't expect Pfizer to lose a ton of money on this.
what?
article says the US ordered $2B worth of doses.
That does not sound like what you are describing. It sounds like business.
$2bn reasons...
PFE's representative on Capitol Hill said that they were not going to just sell the vaccine at cost, so there is likely some profit coming in. It's not a bad thing, and they're not the only ones who have said it.
Do you understand that it costs money to development and produce 100 million doses of a vaccine? That's literally $20 per dose. Between COGS and clinical trail costs, Pfizer may be in the red on this deal.
Someone is taking the money, but wouldn't this $2B be allocated to whomever comes up with a vaccine first? And on top of that its been my understanding that whatever company does reach the finish line first, other Pharma companies have vowed to assist in the production of the vaccine.
Either way this could be very good news for if the government is allocating the funds to just Pfizer, then Pfizer must be very confident they have something positive going on with their development.
$2B of doses.....IF approved.
True, my faux pas, saw this on TV this morning:
"Health officials have previously warned that one of the greatest challenges of rapidly rolling out a vaccine will be obtaining the supplies necessary to produce enough doses. That includes syringes and transport media. However, HHS Secretary Alex Azar said on CNBC’s “Squawk Box” later Wednesday that the government has bolstered the supply chain so the companies can at least produce enough initial doses to vaccinate the U.S.
“We’re not concerned about supply chain,” he said. “We’ve secured that to be able to ensure that we’ll be able to vaccinate the American people once we get vaccines that are demonstrated safe and effective to the FDA’s gold standard of approval or authorization.”"
And hadn't heard the money aspect.
Now I didn't expect Pfizer to be giving this away, and it does sound like this is currently a non profit transaction.
So you think they should willingly lose even more money on this, because they know they will get positive recognition?
Aren't clinical trials considered a capitalized cost and should be rolled into COGS?
This does sound like just pfizer(and Biotech as this is a joint venture). But I imagine other deals of this sort will be available if and when other companies get a vaccine approved.
Also remember this deal is contingent upon approval of a vaccine. Money is not exchanging hands at this time.
sometimes, yes. that's why there is a classification for an orphan drug.
No not really. At least that is not the normal practice with pharma development and finance. The cost of trials are factored into P&Ls and rNPV projections, but COGS are on a separate line item and narrowly defined (raw materials, active, manufacturing, packaging, labor).
Of course the true cost of a product includes many other factors, including trials, but COGS is just about the physical making of a product.
* based on my experience. :)
Just positive recognition? I think it's going to be a tad more than that, why do you think Pharma companies are throwing everything they have into this? The first company that develops a Covid-19 vaccine would have a status in the Pharma world would be unparalleled.
Ya positive recognition.
But what good does that do you if you don't continue to make profitable products in the future?
You're not making any sense - how would this effect their other products? And you seem to have a blind spot to the big picture here, I'm kinda baffled how you don't see how big of a win this is for the company that develops the vaccine for Covid-19.
just to expand on your point...
above all, helping to save lives and getting the world out of the crisis is a huge deal. but...for the future...
for the big companies, it's another feather in their cap (PFE, MRK, AZ). this further solidifies their standing in the group of premier vaccine companies. and they'll be the first to get funding or be offered partnerships or purchasing opportunities for promising vaccine candidates from small companies.
for JNJ, it's a redemption after their recent missteps (baby powder, etc)
for Moderna and other small companies who are collaborating with the big companies, this is what would make their company.
so yea...it's a big deal.
And the very best in the industry will want to work for Pfizer as that's a feather in their cap and their resume.
They will not make any money on this deal.
The CEO said verbatim that they’ll be making a profit.
WhiteBus, I probably disagree with you more than agree, but T2k is an admitted troll and consistently does not discuss in good faith. So if I were you I’d ignore him from now on. Just stick to correcting his blatant falsehoods.
https://time.com/newsletter/sample-the-leadership-brief/
I think they will likely do it on a close to break even scenario. Can you imagine the PR if they held the world hostage on extortionate pricing of a vaccine during a pandemic? The backlash would be crippling.
**Speculating here** wonder if the government could do like a "eminent domain" on intellectual property if they tried to set the price at like 10k a treatment?
Read carefully. I said "this deal". Let's deal with the future as it happens. And remember, if this vaccine doesn't get approved, they will lose hundreds of millions (perhaps a billion). Huge risk for Pfizer.
On the vaccine, not this deal. Read more carefully and please stop trolling.
Geez makes you wonder which some of the complainers here hate more, capitalism or the prospects of success with Operation Warp Speed.
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