“Pfizer and Moderna are making about $50 billion a year on these shots and they want that to continue. So they need to reformulate. Maybe target a new variant, maybe change some of the ingredients — who knows, these shots have disappointed so it’s not clear what it will take to get them to work. This is a problem because reformulated shots mean new clinical trials and new regulatory reviews by the FDA. There is a decent chance that any reformulated shot might fail a new clinical trial, and the public is deeply skeptical of these shots already, so the scrutiny would be intense.”
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