How This News May Represent a Crucial Test for Moderna and Pfizer

Health regulators initially weren't jumping to authorize coronavirus booster shots. This summer, they considered current vaccines offered necessary protection. Still, earlier this fall, they decided to authorize the shots -- but only for certain individuals rather than for broad use.

Coronavirus cases declined over the past two months. In recent weeks, though, the situation has changed. COVID-19 cases are on the rise once again. So the following news may be just in time: Last week, the U.S. Food and Drug Administration (FDA) expanded the authorization of Moderna's (NASDAQ: MRNA) and Pfizer's (NYSE: PFE) booster shots. This won't lead to an immediate boost in sales for the companies. They've already signed contracts for this year that include these booster doses. But expanded use of boosters may be a key test for Moderna and Pfizer -- one that will determine whether sales will gain down the road.

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Source Fool.com