Stephen Hoge, Moderna president

Mod­er­na pre­dicts $5B in 2023 Covid vac­cine sales, re­ports net in­come loss and cost in­creas­es

Mod­er­na’s boom days are be­gin­ning to look like a thing of the past as the biotech is prepar­ing for de­clin­ing Covid-19 vac­cine sales, and heavy in­vest­ments in R&D on the flu, RSV and po­ten­tial can­cer vac­cines.

The com­pa­ny re­port­ed a pre­dict­ed drop in in­come but stuck to its an­nu­al sales fore­cast of $5 bil­lion for its Covid-19 vac­cines on Thurs­day’s Q4 and full year 2023 in­vestors call. That’s less than a third of what the com­pa­ny hauled in for 2022 in Covid vac­cine sales, which to­taled $18.4 bil­lion. A lit­tle less than half of that 2023 fig­ure, or $2 bil­lion, is ex­pect­ed in the first half of this year.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.