- In a statement to the media, Moderna CEO Stephane Bancel said that the world may be moving out of the pandemic and into an endemic phase as the Covid-19 omicron wave subsides in the U.S. and around the world.
- The company raised its 2022 revenue estimates for Covid vaccine sales by $2 billion.
Moderna‘s Vaccine Sales
In a statement issued on Thursday, pharmaceutical giant Moderna said it aims to sell at least $19 Billion worth of its Covid vaccine in 2022, reporting fourth -quarter earning that totally beat the earning and revenue estimates of analysts.
In morning trading on Thursday, Moderna stock was trading at 11.4% higher than before. The company’s vaccine sale forecast for 2022 was $2 Billion higher than its previous estimation. In earlier statement, the company had estimated earning $17 Billion from Covid vaccine sales in 2022.
CEO Stephane Bancel stated on Thursday morning that the $19 billion only reflects signed purchase agreements and does not include potential U.S. sales yet since the US federal government had not signed any advanced purchase agreements for 2022.
Declining to comment on any future pricing in the US, the CEO of the company mentioned that he expected the price to increase as vaccines move into a normalized, private market. He also said that the price will not reflect the vaccine’s value from a pharma-economic perspective.
Earlier, Moderna reported $4.9 billion in net income from vaccine sales for the fourth quarter. The company sold $17.7 billion worth of its Covid vaccine in 2021. Moderna’s total revenue for 2021 was $18.5 billion.
Mr. Bancel stated that he feels the world will be moving out its pandemic phase into an endemic one, while cautioning that people over 50 and those with underlying health conditions may need to receive booster shots later this year.
The Covid vaccine from Moderna is its’ only commercially available treatment. The vaccine, which comprises two doses has been fully approved by the FDA and CDC for adults aged 18 and above.
Moderna is also in the process of producing a booster that covers the Omicron and other circulating strains of the virus.
The company’s Chief Medical Officer Paul Burton reaffirmed that a booster that targets both the omicron and delta variants will be needed in 2022.
In the US alone, more than 207 million doses of Moderna’s vaccine have been administered since the FDA first authorized the shots on an emergency basis in December 2020.