Covid drug and vaccine sales nosedive, denting biopharma revenue across the board
Moderna reported a steep decline in Covid-19 vaccine sales in the first quarter that mimicked a plunge in revenue reported by other manufacturers of Covid vaccines and treatments.
Many of the pandemic players including Pfizer, Merck and Moderna have warned that Covid drug and vaccine sales would decline this year, especially when comparing the first three months of 2023 to the same quarter a year ago, when there was a resurgence in Covid cases due to new variants.
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