Pfizer Vs. Merck: Battle Between The Giants During Pandemic And Beyond

Feb. 08, 2022 11:15 AM ETMerck & Co., Inc. (MRK), PFE32 Comments
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  • Though Pfizer and Merck successfully developed their own COVID-19 anti-viral therapeutics, their similarities ended there. Pfizer's Paxlovid is clearly superior at 89% efficacy, boasting more than double Merck's order book.
  • Despite the robust sales for Comirnaty and Paxlovid, Pfizer is still facing a patent cliff from FY2024 onwards, with a potential loss of $22B annual revenues.
  • On the other hand, Merck has managed to extend Keytruda's patent by eight years, which may account for an additional $137B of revenues from 2028 to 2036.
  • Moving forward, Merck is expected to report decent growth at a CAGR of 3.93% over the next five years, while Pfizer's revenue will return to its pre-pandemic stagnation.
Vaccine in laboratory - flu shot and Covid-19 vaccination

Toshe_O/E+ via Getty Images

Investment Thesis

Pfizer Inc (NYSE:PFE) has achieved global success in FY2021 by distributing 3B of its COVID-19 vaccine, Comirnaty, in over 107 countries. In addition, the company's COVID-19 anti-viral pill, Paxlovid, is expected to be the therapy of choice for many infected

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