Why is a new cancer vaccine a big deal for the industry
Posted On July 17, 2021
The cancer vaccine industry is expected to grow by about 3% over the next five years, with the potential to triple the amount of vaccine production, according to an industry report.
That could boost revenue by $12.2 billion over the same period.
The industry has been struggling to stay on top of the virus pandemic and is still working to figure out how best to help patients.
In July, President Donald Trump called on the industry to focus on the most important things.
The White House also announced a $1.6 billion plan to help the industry increase production, which the industry hopes to leverage to help get more people vaccinated.
“We’re seeing that the vaccine industry has a lot of capacity to get a lot more people to be vaccinated,” said Scott Taylor, chief executive officer of the American Cancer Society.
“And so, in a sense, we’ve been in a very good position to help them achieve their goals, which is to make vaccines that can help them be able to reduce their risk of dying from cancer and, if they are able to, help people live longer.”
The $1 billion in additional production is a drop in the bucket compared to the industry’s annual revenue of $20 billion, Taylor said.
But he expects the industry will grow in the years ahead, as it has in the past.
It was a big day for the cancer vaccine business on Wednesday.
With a single-dose vaccine being available for $8.50 at most medical facilities, there was a rush to get people vaccinated, and companies were quickly building their stock.
A new, smaller vaccine was available for less than $5.
A $3.50 flu shot was being offered for $10, and the only time a vaccine was not being offered was at Thanksgiving, when the company had to cancel all orders.
The new vaccines, called the COVID-19 VLF, and COVID A-D vaccines are meant to prevent the deadly coronavirus, which has killed more than 30,000 people and sickened more than 8,400.
The vaccines contain two different strains of the disease that can be made in the lab.
Coverage on the internet was disrupted by a virus scare earlier in the day, with some sites temporarily shutting down.
On Tuesday, the first batch of vaccine was ready for patients, and on Wednesday, it was ready to go.
Health officials said there were still about 400 patients being tested at participating hospitals and clinics, and there were some concerns about the virus spreading.
There were also reports of people not getting vaccinated at the start of the flu season.
More:The National Institutes of Health said it was continuing to investigate the possible transmission of the COV-19 virus.