WSJ US BusinessModerna Turns First Profit, Boosted by Its Covid-19 Vaccine

May 6, 20210
https://www.gmi-co.com/wp-content/uploads/2021/05/moderna-turns-first-profit-boosted-by-its-covid-19-vaccine.jpg

Moderna Inc.’s Covid-19 vaccine lifted the biotech company to its first-ever quarterly profit, a milestone in the rise of a company that burst into the spotlight last year as it rapidly developed a shot against the coronavirus.

The vaccine brought Moderna revenue of $1.73 billion in the first quarter, reflecting three full months of its use in the U.S. and initial international sales, the company said Thursday.

Moderna also boosted its full-year forecast of Covid-19 vaccine sales to $19.2 billion, based on advance purchase agreements, from $18.4 billion it previously predicted.

The forecast points to a booming market for Covid-19 vaccines, as Pfizer Inc. this week said the Covid-19 vaccine it makes with BioNTech SE could generate $26 billion in sales this year.

Yet the prospect of a temporary loss of vaccine patents clouded the bright performance and outlook.

Leave a Reply

Your email address will not be published. Required fields are marked *

700 Louisiana Street , Houston TX. 77002
(+1) 832-390-2738
info@gmi-co.com

Follow us:

FREE CONSULTATION

Calls may be recorded for quality and training purposes.

Copyright © GMI 2020