Summary Lower than market expectations since company anticipated decreased demand in fourth year of pandemic
CAMBRIDGE (Web Desk) - With its COVID-19 vaccines Moderna reiterated its prediction of $5 billion in yearly sales which was lower than the market's expectations since the business anticipated decreased demand in the fourth year of the pandemic.
It was widely anticipated that sales of the COVID vaccination, Moderna's only commercial product, would drop significantly this year from $18.4 billion in 2022.
The $6.98 billion estimate provided by Refinitiv was higher than Moderna's expectation.
As it tries to expand its product range beyond COVID vaccines, the business also restated its ambitions to submit for regulatory clearance of its respiratory syncytial virus vaccine in the first half of 2023.
