Pfizer (NYSE:PFE) plans to tap the mRNA technology to make new vaccines for other viruses following the success of its Covid-19 shot, which was developed jointly with German partner BioNTech, The Wall Street Journal reported on Tuesday.
The drugmaker said it was ready to pursue mRNA on its own following its experience in the past year working on the COVID-19 vaccine, the WSJ reported, citing an interview with Pfizer Chief Executive Officer Albert Bourla.
It did not, however, disclose any details about the viruses it was targeting.
Pfizer/BioNTech (NASDAQ:BNTX) and Moderna’s (NASDAQ:MRNA) COVID-19 vaccines, authorized for emergency use in the United States, use mRNA technology.
The success of the technology is prompting drug developers to consider its use in other areas of medicine beyond vaccines, attracting billions of dollars in investment.
The company also said this morning the U.S. Food and Drug Administration (FDA) no longer requires PFE to transport vaccines at ultra-low temperatures.
The decision could improve PFE’s supply chain, positioning the company to better compete for market share in 2022. PFE’s Q4 revenue grew 12% Y/Y. Management expects 6% long-term growth ex-COVID-19 vaccine.
PFE opened Tuesday trading down 40 cents, or 1.1%, to $35.60.