Moderna Reduces Projections for 2024 Sales as EU Vaccine Revenue Drops
Thursday, 1 August 2024, 10:32
Moderna's Revised Sales Forecast
On Thursday, Moderna announced it would reduce its forecast for 2024 sales of COVID-19 and respiratory syncytial virus vaccines by up to 25%, translating to a decrease of up to $1 billion.
Impact on Vaccine Revenue
The company expects very low sales to the EU, contributing to a significant decline in expected revenue.
- The previous sales forecast was approximately $4 billion, marking the lowest since the launch of the COVID vaccine in late 2020.
- Moderna's shares dropped nearly 11% before the opening bell in response to this news.
- For the second quarter, Moderna reported a net loss of $1.3 billion, or $3.33 per share.
Conclusion
The downgrading of sales forecasts indicates ongoing challenges for Moderna in maintaining high sales volumes, particularly within the European market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.