How Pfizer Plans to Unlock Another Mass-Market Vaccine
As the first company to introduce a COVID-19 vaccine, pharmaceutical behemoth Pfizer (NYSE: PFE) experienced enormous windfalls by delivering primary and booster shots on a global scale. The company has distributed 3.4 billion doses of Comirnaty as of the first quarter.
Now, Pfizer is developing a vaccine for another infectious disease with a wide-open market. Let's take a closer look.
Pfizer will invest about $95 million in specialty vaccine maker Valneva, based in France. The two companies have been working together since April 2020 to develop a Lyme disease vaccine candidate, VLA15. Under the terms of the deal, Pfizer will obtain an 8.1% stake in Valneva, will cover 60% of remaining development costs, and will pay Valneva tiered royalties on sales ranging from 14% to 22% along with several milestone payments.
Source Fool.com
