This week is all about healthcare with Pfizer Inc. (NYSE:PFE), Sanofi SA (NASDAQ:SNY), Regeneron Pharmaceticals Inc (NASDAQ:REGN), and Bristol-Myers Squibb Co (NYSE:BMY) reporting earnings. But, what is under the spotlight is the effort pharmaceutical and biotech companies are making to combat COVID-19 or more precisely, the vaccine. Pfizer was the first who brought it to the market and gained FDA approval along with using the ground-breaking mRNA technology successfully.

To give you a better idea of how big its scientific success is, Merck & Co., Inc. (NYSE:MRK) gave up on both of its coronavirus vaccine candidates on Monday after the company failed to produce favorable results in early-stage clinical testing. Although they appeared to be safe, neither succeed in producing stronger immunity. On a brighter note, Merck may well have a winner on its hands with its novel anti-inflammatory therapy, MK-7110 that could be the drug that doctors desperately need to save hospitalized patients with severe COVID-19 symptoms. The phase 3 clinical trial data revealed promising data that patients treated with MK-7110 had a 50% lower risk of death or respiratory failure compared to those given a placebo. But, this doesn't diminish the fact that Pfizer's candidate plays a huge role in avoiding this scenario altogether.

Especially since Pfizer is ready to respond if COVID-19 variants demonstrate evidence of evading its vaccine. Last Thursday, Novavax, Inc. (NASDAQ:NVAX) stated its vaccine was only 49% effective against B.1.351, the highly contagious strain found in South Africa. On Friday, Johnson & Johnson (NYSE:JNJ) also revealed its one-shot vaccine was less potent against it, with its 66% effectiveness overall dropping to 57% against the South Africa strain.

Revenue rose 12% to $11.68 billion from $10.44 billion during the same quarter last year which is better than the $11.43 billion that analysts expected. Adjusted EPS amounted to 42 cents, slightly under the expected 48 cents. The bottom line is that Pfizer's decade-long conversion into a pure-play, science, and innovation-company was put to the ultimate test with the pandemic and Pfizer delivered. Alongside demonstrating its scientific capacity, the dramatic shift in strategy along with rebranding started paying off.

At the end of January, Sanofi announced that it has entered into an agreement with Germany's BioNTech SE (NASDAQ:BNTX) to support the manufacture and supply of the latter's COVID-19 vaccine candidate which is being co-developed with Pfizer. Scientific development is one thing, and the administration of vaccines is another. The market is now reconciling that slowness in COVID vaccine response means the pandemic's impact may last longer than hoped. But without Pfizer's efforts, there would be no economic recovery to discuss.

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