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
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.