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The pharmaceutical company Pfizer Inc. (PFE) is preparing for a pivotal year
The patent cliff is one of the most serious threats to pharmaceutical firms. When a drugmaker's patent on an internally designed medicine expires, cheaper generics often hit the market, resulting in a decrease in sales for these drugs.
On the other hand, PFE is dealing with a far more pressing problem. Its COVID-19 products, the vaccine Comirnaty and the medication Paxlovid, will witness a decrease in sales beginning next year. To invest in PFE, one must consider both the immediate threat of diminishing Coronavirus-
Fortunately, PFE has a strategy in place to stay competitive.
The only approach for drugmakers like PFE to maintain revenue and profitability after patent expirations is to create new medications. To that goal, the corporation recently went on a buying spree, allowing it to extend its pipeline. It already had a solid portfolio of attractive initiatives prior to these deals.
However, PFE intends to put it all together beginning next year. CEO Albert Bourla anticipates that the business will introduce at least ten new medications in 2023. To put that figure into perspective, PFE normally handles one or two new launches every year. Next year's product line-up will feature five new vaccines and numerous treatments in both cancer and immunology.
One of them will probably be Ritlecitinib, a possible therapeutic for the hair-loss disorder alopecia areata. PFE announced regulatory approval of Ritlecitinib as an alopecia therapy in the United States and Europe in September.
PFE's new products will have a difficult battle. Replacing the company's Coronavirus range would be difficult, even with the $25 billion in risk-adjusted income generated by these new releases by 2030, according to Bourla. After all, PFE anticipates $32 billion in sales from Comirnaty and $22 billion from Paxlovid this year. The good news is that Paxlovid and Comirnaty are expected to continue selling long after the pandemic has ended. COVID-19 is here to stay, and individuals will continue to be immunized and boosted.
PFE's stock has lagged the wider market this year, owing in part to the apparent end of its Coronavirus tailwind. However, its long-term prospects remain strong because of its extensive and expanding pipeline.
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Lakefield International's PR Manager Shiela Wong