October 14, 2009
[efoods]Americans are still debating whether to roll up their sleeves for a swine flu shot, but companies have already figured it out: vaccines are good for business.
Drug companies have sold $1.5 billion worth of swine flu shots, in addition to the $1 billion for seasonal flu they booked earlier this year. These inoculations are part of a much wider and rapidly growing $20 billion global vaccine market.
“The vaccine market is booming,” says Bruce Carlson, spokesperson at market research firm Kalorama, which publishes an annual survey of the vaccine industry. “It’s an enormous growth area for pharmaceuticals at a time when other areas are not doing so well,” he says, noting that the pipeline for more traditional blockbuster drugs such as Lipitor and Nexium has thinned.