(Me – if I believed that, I’d buy stock in the vaccine makers, not energy companies.)
What you state makes a lot of sense, theoretically speaking, however, from personal experience, the vaccine makers and therapeutics are having their stock values clobbered.
I own GILD and PFE, both good dividend plays - but sadly just that.
Last week when GILD finally came out with their official pricing for remdesivir, the news media and many government people were complaining why they had to charge $ 390 to $520 per vial. Never mind the fact that remdesivir works very well and shortens hospital stays. GILD has invested $ 1 Billion in remdesivir, but when the stuff is found to work real well, the powers want the meds for free. Which is the reason why to this day, GILD is still trading well below its high.
Similar story for PFE, actually worse, - it is 30% below its 52-week high, yet it recently reported promising results so far from its vaccine. There too, I expect that whoever is going to have a proven, FDA approved vaccine, that company is then expected to offer it up at " affordable " pricing, which really means free of charge.
Bottom line; IMHO owning a mid-stream is a better deal than any pharma stock as societies invariably expect to get those life saving meds at super low or no cost pricing and the pharma companies get accused of price gouging - though there have been cases there.