Moderna lowers forecast for 2021 COVID-19 vaccine deliveries

Moderna is scaling back expectations for the number of COVID-19 vaccine deliveries it expects to make this year

Via AP news wire
Thursday 04 November 2021 11:51
Harris Moderna Booster
Harris Moderna Booster

Moderna is scaling back expectations for the number of COVID-19 vaccine deliveries it expects to make this year and the revenue it will record from them.

The drugmaker said Thursday that longer delivery lead times for exports and a temporary impact from expanding its fill-finish capacity may shift some deliveries to early 2022. The company now expects full-year, 2021 product sales of between $15 billion and $18 billion.

That’s down from a prediction for $20 billion in sales that it made in August.

Moderna’s COVID-19 vaccine is the only product the drugmaker has on the market. It brought in $4.81 billion in sales during the third quarter, up from $4.2 billion the previous quarter.

The Cambridge Massachusetts company also reported on Thursday third-quarter results that missed expectations.

Company shares fell almost 11% before the opening bell.

Moderna Inc. makes one of three COVID-19 vaccines currently being used in the United States The others are made by Pfizer Inc. and Johnson & Johnson.

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