Pfizer on Opposite Sides of Two Promising Vaccine Trials
Data from two promising vaccine trials, announced Tuesday, heralded potential breakthroughs in the treatment of pneumococcal infection and Lyme disease. One could add to pharma giant Pfizer’s market share, while the other could subtract from it.
Pfizer and its French partner Valneva said Tuesday that a mid-stage trial of their Lyme disease vaccine candidate — which targets the outer surface protein of the bacterium that causes the disease via tick bites — resulted in significant antibody responses and no major safety risks. There’s currently no approved vaccine for Lyme, for which more than 450,000 Americans are treated every year (all aren’t necessarily infected — there were 62,000 confirmed new cases in 2022, according to the Centers for Disease Control).
Meanwhile, Vaxcyte announced that its pneumococcal infection vaccine candidate protected against 31 strains of streptococcus pneumoniae bacteria, which can cause illnesses including meningitis and pneumonia. If the candidate progresses, it’ll propel the upstart, founded in 2013, into a duel of jabs on the open market, with Pfizer likely to get poked:
Vaxcyte said its candidate, VAX-31, provided the same or better protection against the 20 pneumococcal infection strains blocked by Pfizer’s Prevnar 20 — a high dose outperformed Pfizer’s jab against 18 of the 20 strains, while a medium dose outperformed 13.
“VAX-31, if successful, will take up the lion’s share in a growing $10 billion-plus future pneumococcal conjugate vaccine market,” wrote Jefferies analyst Roger Song.
Losing ground in the pneumococcal market could be tough for Pfizer, especially given the relatively small footprint of Lyme. A 2015 study estimated that Lyme disease costs the US healthcare system as much as $1.3 billion annually, while a 2018 study found treatment for chronic conditions associated with the disease costs between $4.8 and $9.6 billion annually.
Stock Booster: Vaxcyte’s shares skyrocketed 36% Tuesday, adding roughly $4 billion to the company’s market cap. Pfizer was down 2.4% and Merck, another major pharma conglomerate with its own pneumococcal vaccine, fell nearly 1.6%.
