BioNTech/Pfizer and Moderna, the pandemic’s mRNA-based vaccine frontrunners, have already booked billions of dollars in revenue, which they are using to boost production, sign new contracts and entrench their positions. Likewise, Oxford/AstraZeneca and Johnson & Johnson have been rolling out their cheaper and easier to transport shots for months, while Chinese and Russian-made vaccines dominate in several markets. Large pharma companies like Sanofi and GSK are hoping to shake off their image as laggards, while start-ups such as Novavax, CureVac and Valneva see opportunities to satisfy unmet needs.
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