Moderna and Pfizer revenue decline due to COVID-19 vaccine 'sluggish'

Moderna forecasts its revenue in 2023 will reach $6 billion, lower than the $6-8 billion it previously forecast.

However, Moderna said sales will return to growth in 2025, as it forecasts the US will purchase at least 50 million doses of its COVID-19 vaccine.

In 2024, Moderna expects to earn $4 billion from sales of its COVID-19 vaccine Spikevax and its respiratory syncytial virus (RSV) vaccine.

Pfizer is also currently suffering losses due to sluggish sales of COVID-19-related products. According to the above report, in the third quarter of 2024, the company lost 2.4 billion USD, while in the same period last year, the company recorded a profit of up to 8.6 billion USD.

This loss is due to the company still having a large inventory of COVID-19 vaccines and treatment drugs worth up to 5.6 billion USD.

Hoang Nam (according to Reuters)