Moderna COVID-19 Vaccine Sales : Moderna Inc. (MRNA.O) has changed its sales estimate for COVID-19 vaccines for the year and expects to make up to $8 billion. The confidence comes from the fact that sales are shifting from government contracts to private markets in the United States when demand is expected to increase. So, Moderna’s stock rose by 6% before the market opened, showing buyers believed the company’s forecast.
Moderna and Pfizer are counting on sales on the private market and demand for improved shots targeting the XBB.1.5 type to make up for the drop in sales they saw after the pandemic’s peak. Even though the pandemic gave these vaccine makers a lot of chances to grow, the later decline in demand meant that they had to look for other ways to sell their products.
Moderna thinks COVID vaccine sales will be between $6 billion and $8 billion this year, which is more than its earlier estimate of $5 billion. The fall season in the United States could cause 50 million to 100 million doses to be bought. This is a big reason why sales are expected to go up.
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Moderna thinks that between $2 billion and $4 billion of vaccine, sales will come from business contracts in the United States and other places. But $1 billion of the expected total sales from signed government contracts will be put off until the following year.
On the other hand, Pfizer has warned about the unpredictability surrounding COVID vaccine sales. The company thinks that the vaccine rates in the fall will be a good sign of the rates for the whole year. During the second quarter, Pfizer’s COVID-19 vaccine sales dropped by 83%.
Even though Moderna’s COVID vaccine sales dropped by 94% in the second quarter to $293 million, this was still more than the average expert estimate of $233.6 million. Moderna’s net loss was $3.62 per share, less than the average $4.04 per share expected by experts.
But Moderna’s quarterly financials were affected by $674 million worth of inventory writedowns and other charges. These fees came about because more people wanted the new COVID shot, and fewer wanted the older forms.
In conclusion, Moderna is still hopeful about the future sales of its COVID vaccine, and it expects a big jump in sales as fall approaches. The move to private markets will likely increase demand, making up for the drop in sales from government contracts. Even though there were problems during the second quarter, Moderna’s updated estimate and the positive reaction from the market show that the company has good chances in the changing world of COVID vaccination.
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Moderna has emerged as a dominant player in the U.S. COVID-19 market, surpassing its rival Pfizer (PFE.N) with a market share of 48% in the fall season of 2023, up from 37% in 2022. The company’s success can be attributed to its strong partnerships with pharmacies, which have played a crucial role in expanding its market share.
What is the cost of sales for Moderna?
Moderna has projected a cost of sales of around $5 billion for the entire year. This estimate includes charges of $1.6 billion in the third and fourth quarters, which are related to the company’s proactive resizing of its manufacturing footprint.
What are the results of Moderna 2023?
Moderna has announced unaudited/preliminary product sales of almost $6.7 billion for 2023, all of which came from the sales of its mRNA-based COVID-19 vaccine. This is a significant achievement for the company and highlights the success of their innovative vaccine technology. The impressive sales figures demonstrate the high demand for effective COVID-19 vaccines and the trust that people have in Moderna’s product. It’s clear that Moderna’s vaccine is making a significant impact in the fight against the pandemic.
What happened to the Moderna vaccine?
The Bivalent Moderna COVID-19 Vaccine is no longer permitted for use in the United States.