Why Pfizer and Moderna Won't Make As Much Extra Money ?

Key Points

The FDA and CDC have given a thumbs-up for third booster doses of mRNA vaccines in immunocompromised individuals, but this won't translate to a lot of extra revenue for Pfizer or Moderna.

There's a relatively small market in the U.S. for booster doses under the current EUAs.

The U.S. government has also already secured supply deals for more than enough doses to fully vaccinate every American and give a third booster dose.

On Aug. 12, the FDA updated the Emergency Use Authorizations (EUAs) for the COVID-19 vaccines made by Pfizer (NYSE:PFE) along with its partner, BioNTech (NASDAQ:BNTX), and Moderna (NASDAQ:MRNA) to include a third booster dose for immunocompromised individuals. One day later, the CDC changed its stance to recommend booster doses of the two messenger RNA (mRNA) vaccines for moderately to severely immunocompromised individuals.

With EUAs in hand for third booster doses, will the top COVID-19 vaccine makers rake in a lot more revenue now? Not really. Here's why Pfizer and Moderna won't make as much extra money from U.S. booster doses as you might think.