SCOTUS shock | Pfizer, Moderna earnings | Vaccine demand drops

VIEW IN BROWSER | SUBSCRIBE Fri, May 06, 2022 EDITOR'S NOTE Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.   The Supreme Court is poised to overturn Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide, according to a draft opinion that leaked this week.    Two dozens states are ready to completely ban abortion if the court ends Roe. For many women, abortion pills may be one of the few options they have left to end a pregnancy, but the pill faces growing opposition in many states that are against abortion.    In business news, Pfizer and Moderna reported strong first quarter earnings this week, with both companies expecting a strong second half of the year as the U.S. gets ready for a fall Covid-19 booster campaign.   Moderna is expecting $21 billion in vaccine sales this year, though CFO David Meline said there's some uncertainty in that guidance because the company is still nailing down demand in some countries. However, there's also upside as the company expects the U.S. to place an order ahead of the fall.    However, CVS said demand for Covid vaccines and testing is falling, with virus transmission low compared to the winter omicron wave. Demand for Pfizer's Paxlovid, on the other hand, is growing with prescriptions increasing tenfold, CEO Albert Bourla said this week.   Meanwhile, Covid infections continue to increase in New York City, with the health commissioner warning that mandates could return if hospitals come under pressure.   Feel free to send any tips, suggestions, story ideas and data in the meantime to me at spencer.kimball@nbcuni.com. Spencer Kimball | Health Reporter @spencekimball Spencer Kimball | Health Reporter @spencekimball Supreme Court poised to overturn Roe v. Wade The Supreme Court is poised to overturn the constitutionally protected right to abortion ensured by the nearly 50-year-old Roe v. Wade ruling, according to a leaked initial draft of the new opinion obtained by Politico. The draft was written by Justice Samuel Alito, with the concurrence of at least four other conservative members of the Supreme Court. If the conclusions of Alito's draft opinion are officially released by the court before its term ends in about two months, individual states would be able to restrict when and how women could terminate their pregnancies, without federal courts having a say over the legality of those rules. - Kevin Breuninger, Dan Mangan Medication abortion faces increasing opposition Cleared for use by the FDA up to 10 weeks of pregnancy, medication abortion now makes up the majority of abortion in the U.S. — and its use may only grow if Roe v. Wade is overturned. Some states have already been cracking down, and legal experts tell us enforcement could pose thorny questions. - Meg Tirrell Moderna triples vaccine sales, expects strong second half from boosters Moderna has tripled its Covid vaccine sales since 2021, with the biotech company expecting another $21 billion in revenue from the shots this year. Moderna expects sales to increase in the second half of the year as the U.S. and Europe prepare for fall booster campaigns ahead of another possible Covid wave when the weather turns.  - Spencer Kimball   Pfizer beats but cuts profit outlook; ready to manufacture new vaccines Pfizer also had another good quarter, beating on earnings and revenue, though the company cut its profit outlook due to a strong U.S. dollar and R&D costs. CEO Albert Bourla said Pfizer is ready to produce redesigned Covid shots as soon as the FDA decides which virus mutations the vaccines should target for a fall booster campaign.  - Spencer Kimball   Paxlovid prescriptions increase as supply problems ease Supplies of Pfizer's Covid antiviral treatment were scarce when it first rolled out, but distribution is ramping up in the U.S. Prescriptions increased more than tenfold from February to April as the Biden administration has set up more sites where people can get the pill and as Pfizer ramps up production. Pfizer is expecting $22 billion in Paxlovid sales this year.   - Spencer Kimball CVS says demand for Covid vaccines and testing is declining CVS Health outpaced Wall Street's expectations for first-quarter earnings and raised its guidance for the year, as it saw demand for prescriptions and more, while demand for Covid vaccines and testing declined. - Melissa Repko NYC could bring back mask mandate, vax checks New York City increased its Covid alert level to medium this week as infections increase due to BA.2. The city's health commissioner said mask mandates and vaccine checks could come back if hospitals come under pressure in the next weeks.  - Spencer Kimball China Covid lockdowns start hitting foreign businesses  While the bulk of China's new Covid cases are in Shanghai and Beijing, data show the impact of business restrictions is more widespread.   Nearly 60% of European businesses in the country said they were cutting 2022 revenue projections as a result of Covid controls, according to a survey late last month by the EU Chamber of Commerce in China. More than half of those cuts were by 6% to 15%, the chamber said Thursday. - Evelyn Chang JOIN US REGISTER CONTRIBUTORS Bertha Coombs @berthacoombs Meg Tirrell @megtirrell Bertha Coombs @berthacoombs Meg Tirrell @megtirrell Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy CNBC Events © 2022 CNBC LLC. All rights reserved. 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