COVID-19 Sales Have No Major Impact on Drug and Vaccine Manufacturers We Cover
However, the biopharma industry's ability to adapt and innovate to treat disease reinforces our moat ratings.
Despite significant COVID-19 vaccine and treatment sales potential in 2021, the uncertain market duration prevents significant impact on our discounted cash flow-based fair value estimates. That said, several biopharma companies with COVID-19 treatments (Gilead (GILD), Roche (RHHBY), Glaxo (GSK), and Merck (MRK)) look undervalued on the basis of strong potential for their core businesses. COVID-19 vaccine companies generally appear fairly or overvalued, although AstraZeneca (AZN) and Pfizer (PFE) trade at slight discounts to our fair value estimates.
Karen Andersen does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
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