COVID-19 Vaccine
Image: Al Jazeera

The pharmaceutical giant Pfizer has announced that it will scale back its investment if the demand for COVID vaccine remains low this year.

Pfizer also announced it to initiate a cost-cutting program if it’s COVID-19 and antiviral medications continue to underperform due to low demand. The company also said that this year’s fall demand is going to determine the actual market size as the infection cases increase in autumn.

Chief Executive Pfizer, Albert Bourla said that this fall predicting the annual vaccine market size “with the only upside if we have a combined vaccine with flu or with RSV, that would increase the vaccination rates.”

Bourla further said that the company is planning to scale back its investment in the COVID vaccine along with the combination shots if demand is not that high this year.

The company hinted that the cost-cutting would be done company-wide, however, the COVID-19 Vaccine business is more like to get affected by it.

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