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.
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