Prevenar 13 sales take ‘roller-coaster’ ride with COVID-19

Prevenar’s sales surge then drop sharply

Q3 sales drop 70% YoY…sees sluggish sales after recording record sales early on in the pandemic

Demand drops sharply after the start of COVID-19 vaccinations

Sales of the pneumococcal vaccine ‘Prevenar 13’ took a rollercoaster ride in one year, enjoying an upsurge for a short period of time then plummeting in just a single year.

 

The vaccine enjoyed reflective benefits in the early phases of the COVID-19 pandemic but dropped sharply after COVID-19 vaccinations began in earnest.

 

According to the pharmaceutical research institution IQVIA on the 30th, Q3 sales of Prevenar 13 dropped 69.6% compared to the same quarter of the previous year and recorded 7.4 billion won.

 

The cumulative sales by Q3 was 24.9 billion won, also a 58.5% decrease from last year, indicating sluggish sales.

 

Such cases where sales of a product suddenly drops after making unprecedented records just a year ago are rarely observed.

 

‘Prevenar 13’ is a PCV13 that prevents infection from 13 Streptococcus pneumoniae serotypes.

 

It may be administered to all those aged 6 weeks or older.

 

Prevenar 13 for adults is being distributed in Korea by Chong Kun Dang, and for infants by Korea Vaccine.

 

Quarterly Prevenar 13 sales trend (Unit: 1 million KRW, Source: IQVIA)

Sales of Prevenar13 had been steadily rising before the COVID-19 pandemic, recording approximately 10 billion in quarterly sales.

 

Then, its sales surged with the spread of COVID-19.

 

Its sales in Q1 last year was 17.6 billion, a 52.2% increase from the previous year, and rose to 24.2 billion won by Q3 last year.

 

Prevenar13 sold 81.2 billion last year, which was a 64.8% YoY increase.

 

With the claim of some experts that although Prevenar13 cannot prevent COVID-19, it can weaken the pneumonia symptoms of COVID-19 gaining credibility, demand for Prevenar 13 among adults surged temporarily.

 

However, entering this year, its sales had greatly dropped.

 

Sales of the vaccine in Q1 was 9.4 billion won, a 55.5% decrease from the previous quarter, and continued to drop across the following quarters.

 

Analysts believe the rise in demand for Prevenar13 has been watered down due to the prolonged COVID-19 pandemic.

 

Also, the start of COVID-19 vaccinations in earnest had affected the number of other vaccine recipients.

 

Most of the vaccine market for adults is slow this year because of the priority given to COVID-19 vaccines.

 

Also, other analysts see that the temporary surge in demand for COVID-19 vaccines last year lead to the relative gap in demand this year, and the demand for vaccination to reduce pneumonia symptoms has also decreased.

 

The sluggish sales of Prevenar 13 also affected the performance of its distributor, Chong Kun Dang.

 

Chong Kin Dang’s Q3 operating profit fell 23.7% from the same quarter of the previous year and recorded 37 billion won, and its sales recorded 341.3 billion won, a 4.5% YoY decrease.