With supply chain issues disrupting the manufacturing process, pharmaceutical company Pfizer has announced that the due date for the delivery of its COVID-19 vaccines has been slightly delayed.
In an interview with The Wall Street Journal, a spokesperson for Pfizer stated that it took longer than expected to scale the raw materials needed for the mass production of the vaccine. She also mentioned that the dates of the late phase clinical trials were also significantly later than was initially planned.
This news resulted in a 2.5% fall for Pfizer stocks, putting them at a current value of $39.80. While Pfizer’s stocks eventually rose back to $40.09 at the trading session’s close, this figure is still short of the company’s four-day winning streak.
Compared to its closest competitors, Pfizer stocks underperformed. Johnson & Johnson shares rose by 0.58% to $149.00, Merck & Co. Inc. fell by just 0.46% to $81.45, and Novartis AG ADR stocks fell by 1.46% to $90.24—a figure that is still short of Pfizer’s decline.
