Analysis Falling demand for COVID boosters puts price hikes on the table - Anv HEAD TOPICS

Analysis Falling demand for COVID boosters puts price hikes on the table

10/21/2022 10:10:00 AM

Analysis Falling demand for COVID boosters puts price hikes on the table

Ef Busıness-Future-Of-Health Anv

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Reuters

Analysis Falling demand for COVID boosters puts price hikes on the table With most Americans delaying or skipping new COVID -19 booster shots, analysts and investors are now predicting far fewer will be given each year, pushing the number of shots well below annual flu vaccinations. Register now for FREE unlimited access to Reuters.com"The fact that you have people saying the pandemic is over doesn't motivate people to get vaccinated," said Dr. Bruce Farber, chief of public health and epidemiology for New York hospital system Northwell Health. "The average person is not going to jump to get it" without signs of improved efficacy, he said.Uptake of the boosters this year in the European Union did not spike as hoped after new, updated shots that target Omicron were released, staying in a range of 1 million to 1.4 million doses a week. Read more:
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Home sales in the US declined for the eighth month in a row in September as surging mortgage rates and high prices pushed buyers out of the market. Read more >> FDA OKs Novavax COVID Vaccine as First Booster ShotOn Wednesday, the FDA approved Novavax Inc.'s protein-based vaccine as a first booster dose. Until now, it had only been approved as a two-dose primary series. COVID-19 linked to US pregnancy-related deaths; Pence's populist warning; Disney's price hikesThings to know today: COVID -19 linked to increase in US pregnancy-related deaths; Pence warns of 'unprincipled populists'; Disney price hikes. COVID-19 linked to US pregnancy-related deaths; Pence's populist warning; Disney's price hikesThings to know today: COVID -19 linked to increase in US pregnancy-related deaths; Pence warns of 'unprincipled populists'; Disney price hikes. Philadelphia Orchestra cancels upcoming 50th-anniversary China tourDaily News Philadelphia Orchestra cancels upcoming 50th-anniversary China tour US clears Novavax COVID booster doseThe Food and Drug Administration has authorized a booster dose of the COVID -19 vaccine made by Novavax. (NVAX.Written by By Cara Murez HealthDay Reporter THURSDAY, Oct.Today is Thursday, Oct.Today is Thursday, Oct. O) could have to hike prices as much as three times current levels if they hope to meet Wall Street revenue forecasts for the shots for 2023 and beyond, several analysts said. Last year, many on Wall Street were estimating the number of COVID-19 shots would be in line with the annual flu vaccine, which is the vaccine market leader with more than 160 million shots per year in the United States and 600 million shots globally. On Wednesday, the U. Register now for FREE unlimited access to Reuters.Here are today's top stories, celebrity birthdays and a look back at this date in history:*** TODAY'S WEATHER*** MORNING LISTEN Listen now and subscribe: Apple Podcasts Google Podcasts Spotify Stitcher RSS Feed Omny Studio Listen now and subscribe: Apple Podcasts Google Podcasts Spotify RSS Feed Omny Studio *** TOP STORIES This morning's top headlines: Thursday, Oct.com Register Now the slowing pace of the early COVID revaccination campaigns - particularly in the key U. Food and Drug Administration approved Novavax Inc.S.S. market - is changing that view. Until now, it had only been approved as a two-dose primary series. last year, a crisis that has disproportionately claimed Black and Hispanic women as victims. A recent poll by Kaiser Family Foundation found that two-thirds of American adults do not plan on getting a COVID vaccine soon. Analysts are expecting the U.S.S. The percentage of preterm and low birthweight babies also went up last year, after holding steady for years. market to be as low as one-third the size of the flu. “According to CDC data, almost 50 percent of adults who received their primary series have yet to receive their first booster dose. And more pregnant or postpartum women are reporting symptoms of depression. "The fact that you have people saying the pandemic is over doesn't motivate people to get vaccinated," said Dr. Bruce Farber, chief of public health and epidemiology for New York hospital system Northwell Health.” The Novavax booster could be used by adults who can’t find or are not able to use an mRNA boosters from Pfizer or Moderna. The bridge collapse occurred just before Biden was scheduled to visit the city in January and became a symbol of the country's troubled infrastructure. He added that instances of COVID infections in those who have been vaccinated has left many to question the effectiveness of the vaccine. Healthcare investor Bijan Salehizadeh with Navimed Capital, previously thought demand would likely mirror that of the flu, but now believes it will be much smaller without significant evidence that updated shots are better. The Novavax booster can be given at least six months after the primary series. "The average person is not going to jump to get it" without signs of improved efficacy, he said. After visiting the bridge Thursday afternoon, Biden holds an evening fundraiser in Philadelphia for U. After visiting the bridge Thursday afternoon, Biden holds an evening fundraiser in Philadelphia for U. FALLING NUMBERS Over the first six weeks of the roll out, around 14. Scientists created the vaccine from a genetic sequence of the original strain of the virus.8 million people have received the updated COVID-19 booster shots which target the original coronavirus strain and the Omicron strain. In the first six weeks of the 2021 vaccination campaign, over 22 million people received their third shot even though only older and immunocompromised people were eligible at that point. Public health officials are encouraging people to get their boosters. National News AP Trump deposed in defamation suit filed by E. Uptake of the boosters this year in the European Union did not spike as hoped after new, updated shots that target Omicron were released, staying in a range of 1 million to 1.4 million doses a week.S. The deposition Wednesday provided lawyers for E. Wall Street analysts and investors agreed vaccine sales could improve if the companies provide proof new boosters protect people from mild illness; if they develop pan-coronavirus vaccines; or if the shots are combined as a single shot with the flu vaccine. Jean Carroll a chance to interrogate the Republican ex-president about Carroll's assault allegations, as well as statements he made in 2019 when she first told her story publicly. A new wave of infections could also spur demand.5% have received boosters, CDC data shows. For 2023, analysts on average estimate Pfizer, Moderna and Novavax could generate sales of $16.3 billion, $7. More information The U. Details on how the deposition went weren’t immediately disclosed.9 billion and $2. Govt-and-politics AP Judge: Trump knew vote fraud claims in legal docs were false A federal judge says former President Donald Trump signed legal documents after the 2020 election that included voter fraud claims he knew were inaccurate. 8 billion from their COVID-19 vaccines, respectively, according to Refinitiv data. Centers for Disease Control and Prevention has more on COVID-19 vaccines. Pfizer, BioNTech and Moderna declined to discuss their outlook for COVID related sales.S. Novavax Chief Commercial Officer John Trizzino said that although vaccine fatigue and the belief the pandemic is over are currently tamping down demand, the drugmaker expects the COVID market will eventually be at least as big as flu. He said increased infection rates, hospitalizations and deaths will drive people to get boosters. "Unfortunately, the virus does that work for us," Trizzino said. The judge ordered the release of additional emails between Trump and Eastman to the House committee investigating the Jan. The judge ordered the release of additional emails between Trump and Eastman to the House committee investigating the Jan. Moderna has also suggested several times that it believes flu is a good comparison both in the United States and globally. The companies could make up for some of the weaker demand with price increases. Moderna has said that it could aim to charge as much as $100 a dose for shots that it originally priced at around $16. Pence addressed the growing gulf between traditional conservatives and a new generation of populist candidates as he spoke before the Heritage Foundation in Washington less than a month before November’s midterm elections.50. SVB Leerink analyst Daina Graybosch is skeptical the companies will be able to raise prices that high.” Govt-and-politics AP Ukraine's utilities threatened by Russia in war's new phase Russia has declared its intention to increase its targeting of Ukraine’s power, water and other vital infrastructure in its latest phase of the nearly 8-month-old war. But Jefferies' Michael Yee said it is plausible private health insurers and U. Ukrainian President Volodymyr Zelenskyy says that Moscow's forces have destroyed 30% of the country's power stations since Oct.S. government health plans would spend up to three times more than the current price of around $30 to prevent the significant costs of hospitalizations or long COVID. That would mean annual revenue of $3 billion to $5 billion over the long-term for a company like Moderna, he added. They say they have stockpiled flashlights, candles and firewood. Investors have already started to sour on the promise of the COVID vaccine market, particularly for Moderna, BioNTech and Novavax, three young companies that rely on the shots to generate virtually all of their profits. They have stored up canned and preserved vegetables as well as bottled water. Shares in all three companies have fallen by at least two-thirds over the last year. Pfizer, one of the biggest pharmaceutical companies in the world, has dropped around a third. They also are used to Russian President Vladimir Putin's using energy as a weapon. Register now for FREE unlimited access to Reuters.com Register Reporting by Michael Erman; Editing by Caroline Humer and Chris Sanders Our Standards: .