Covid Vaccine Sales Projected to Pick Up After Steep Drop

Sales of Covid vaccines from companies including Pfizer Inc. and Moderna Inc. dropped about 60% in the last three months as countries pulled back on purchases but are likely to pick up again, new estimates show.

Demand is set to rise in the second half of the year with variant-targeting vaccines potentially making up more than a fifth of the market in 2022 if they’re introduced this fall, according to London-based data company Airfinity Ltd.

Pfizer-BioNTech SE is forecast to generate the most Covid vaccine revenue this year -- about $33 billion -- while Moderna will pull in another ...