Pfizer and Moderna developed their Covid-19 vaccines at unprecedented speed, dominating the global market for jabs and sending their share prices to record highs.
But as the landscape shifts from a pandemic to being endemic in the developed world, Wall Street analysts say the drugmakers will have to manage investors’ expectations for future sales of their jabs and a slide in their share prices.
Shares in Pfizer, which developed its vaccine in partnership with BioNTech, hit record highs this summer as the debate around the need for boosters intensified and countries including the US and UK planned to deliver third doses in the autumn.
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