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    1099   CNE100000FN7

SINOPHARM GROUP CO., LTD.

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World to spend $157 billion on COVID-19 vaccines through 2025 - report

04/29/2021 | 06:23am EDT
FILE PHOTO: A woman holds a medical syringe and a small bottle labelled

(Reuters) - Total global spending on COVID-19 vaccines is projected to reach $157 billion by 2025, driven by mass vaccination programs underway and "booster shots" expected every two years, according to a report by U.S. health data company IQVIA Holdings Inc released on Thursday.

IQVIA, which provides data and analytics for the healthcare industry, said it expects the first wave of COVID-19 vaccinations to reach about 70% of the world's population by the end of 2022. Booster shots are likely to follow initial vaccinations every two years, the report said, based on current data on the duration of effect of the vaccines.

The United States is preparing for the possibility that a booster shot will be needed between nine to 12 months after people receive their first full inoculations against COVID-19, a White House official said earlier this month. Pfizer Inc has also said boosters may be needed within 12 months.

Vaccine spending is expected to be highest this year at $54 billion with massive vaccination campaigns underway around the world. It is expected to decrease after that eventually to $11 billion in 2025, as increased competition and vaccine volumes drive down prices, said Murray Aitken, a senior vice president at IQVIA.

The forecast for such meteoric growth in sales for a new class of drugs or vaccines is unmatched, but reminiscent of the $130 billion spent on the new hepatitis C cures between 2014 to 2020 due to pent up demand, Aitken said in an interview.

The spending forecast for COVID-19 vaccines represents 2% of the roughly $7 trillion forecast for all prescription medicines during that time period, IQVIA said.

Excluding the cost of COVID-19 vaccines, overall medicine spending is forecast to be $68 billion lower over the six years from 2020 to 2025 than it would have been without the pandemic, according to the report.

The pandemic caused major disruptions to doctor visits, procedures and medicine use, leading to some stockpiling in the early days for some medications and then a return to a more normal trend, the report said.

"While COVID-19 vaccines will cost $157 billion over the next five years," Aitken said, "that is a very small price to pay relative to the human cost of the pandemic."

(Reporting by Manas Mishra in Bengaluru; Editing by Bill Berkrot)

By Manas Mishra


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -0.17% 8336 Delayed Quote.13.63%
MODERNA, INC. -4.21% 212.04 Delayed Quote.102.97%
SINOPHARM GROUP CO., LTD. 3.08% 23.45 End-of-day quote.24.34%
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Sales 2021 527 B 81 333 M 81 333 M
Net income 2021 8 067 M 1 245 M 1 245 M
Net Debt 2021 16 870 M 2 603 M 2 603 M
P/E ratio 2021 7,56x
Yield 2021 3,86%
Capitalization 61 017 M 9 424 M 9 415 M
EV / Sales 2021 0,15x
EV / Sales 2022 0,13x
Nbr of Employees 108 316
Free-Float 43,0%
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Last Close Price 19,55 CNY
Average target price 23,87 CNY
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Yong Liu President & Executive Director
Xiao Juan Li Chief Financial Officer
Fang Yao Chairman-Supervisory Board
Qing Ming Yu Chairman
Wu Ping Tao Member-Supervisory Board
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