With 15 billion sales, the Pfizer-Biontech vaccine will become the world’s second best-selling drug, after AbbVie’s $20 billion arthritis drug Humira. Health economist Prof. Dr. Onur Başer said that he expects a new pricing system for the vaccine when the uncertainty in the protection period of the vaccine is resolved.
Pharmaceutical companies that find the Covid-19 vaccine will change the balance in the industry. Aiming to sell $15 billion worth of vaccines this year, Pfizer will divide its profit margin, which will reach 25-30 percent, with BionTech. Health economics expert and Head of MEF University Department of Economics Prof. Dr. Onur Başer said, “The Pfizer-Biontech vaccine will become the second best-selling drug in the world after AbbVie’s $20 billion arthritis drug Humira.”
Expressing that it is not possible to return to the old days completely without vaccinating 70-85 percent of the world population, Prof. Başer said that Israel completed 52.4 percent of the vaccination in two months, while the USA is expected to reach this level by January 2022. Başer said, “This rate will be achieved very quickly in developed countries. However, if it goes at this stage, it will take 7 years for 75 percent of the whole world to be vaccinated. But even if the economies of developed countries vaccinate all their citizens, they will lose close to 50 percent of their income compared to the old days without securing the whole world. For this reason, more efforts should be made to get away from vaccine nationalism as soon as possible and to distribute vaccines quickly.”
The vaccine is equal to Pfizer’s 3 drugs combined
Başer stated that large investments were made for vaccines developed in a short period of 18 months and that they expect a return on investment from research laboratories, most of which are private, and said: “The income to be obtained from the Pfizer-Biontech vaccine will equal the sum of the 3 best drugs Pfizer currently sells. equal… Pneumonia vaccine Prevnar’s, 6 billion; Cancer drug Ibrance has 5 billion sales, and blood thinner Eliquis has 5 billion sales. With 15 billion sales, the Pfizer-Biontech vaccine will become the world’s second best-selling drug, after AbbVie’s $20 billion arthritis drug Humira. With the release of the vaccine, the company expects its sales to increase by 6 percent in 2021. Vaccine sales will account for about a quarter of Pfizer’s total revenue this year. Moderna, on the other hand, expects $13.2 billion this year, up from just $60 million in revenue last year. We expect the variety of vaccines and treatments to increase over time, and a new pricing system will be adopted when the uncertainty in the vaccine protection period disappears.
Noting that the rate of success in the vaccine is 30 percent worldwide, Başer said that Turkey should also consider this low rate for domestic vaccines. Başer said, “It is promising that we have domestic vaccine trials, but it should not be forgotten that the probability of failure is over 70 percent. “We definitely need to have a plan B,” he said.
3,000 signed vaccination letters
Reminding that more than 3,000 people, together with 115 world leaders, 19 Nobel prize winners and many other famous names, have signed a letter stating that countries should do the necessary work for the Covid-19 vaccines to be counted as a common good, Başer said, “There should be enough vaccines for everyone and payment must be made. Those who are not strong should also be vaccinated. At the moment, science agrees that the only way to eradicate the pandemic is to spread the vaccine around the world. When developed countries vaccinate their own citizens, when they open their economies, they will do their best to spread the vaccine quickly, otherwise it is not a sustainable method to just save themselves.”
prof. Dr. Who is Onur Baser?
Onur Başer, who graduated from METU Department of Economics in 1994 and completed his Master of Economics at the same university, later did his Master of Econometrics and Statistics at Michigan University, USA. Başer, who prepared his doctorate on the health data of econometrics, specialized in the field of health economics. With his public health program at Harvard University, he developed econometric models for calculating the annual costs of lung cancer to the state. Başer, who worked as the chief economist in the health research department of IBM for 5 years, was among those who prepared the Hospital Quality Index, which is used in the health system in the USA today. Başer, who founded StatinMed, which provides consultancy to pharmaceutical companies in the USA in 2007, conducted sectoral research on drug cost calculations and value-based pricing. Başer, who sold StatinMed to a US investment fund two years ago, continues his research and projects as a visiting professor at Michigan and Columbia Universities in New York. Başer, who is also the Head of the Department of Economics at MEF University, is the Head of the Analytics Department of New York-based Columbia Data Analytics. prof. In addition to his more than 500 international publications and presentations, Başer has also contributed to many books written in the field of statistics.
Source: (BHA) – Beyaz News Agency
