Sales Of Pfizer’s pandemic products decline as other vaccines are scheduled for a second-half launch but the road back to 2022’s all-time high in annual revenues will not be easy.

Having outperformed in 2022, GSK is gearing up for key regulatory and market access decisions on its RSV vaccine, but is confident it holds superior data compared with rival Pfizer.

In a wilderness period for biotech stocks, platform company revenues may offer investors less volatile biotech exposure. They are unlikely to shepherd an exit from the current doldrums, though.