Moderna expects $18.4 billion in Covid-19 vaccine sales in 2021
Moderna Inc expects Covid-19 vaccine sales of $18.4 billion this year from deals already signed with countries, adding on Thursday it was in talks with others for future supply.
Pfizer Inc, the maker of the only other vaccine authorized for emergency use in the United States so far, said earlier this month that it was expecting to record sales of about $15 billion in 2021 from the coronavirus vaccine, which it makes with German partner BioNTech.
Both vaccines are being distributed at an unprecedented speed as cases mount in the United States, with deaths from Covid-19 surpassing the dire milestone of 500,000.
Moderna said it was also in talks with the COVAX vaccine facility, co-led by the World Health Organization, to supply vaccine doses in 2021 and 2022.
Moderna has been aiming to ramp up production of the vaccine, its first and only revenue-generating product.
It said on Wednesday that it aims to produce at least 700 million doses this year and expects to raise production to as much as 1 billion doses by improving its manufacturing process.
Moderna also said Chief Medical Officer Tal Zaks would leave the company in late September. It had retained executive recruitment firm Russell Reynolds to look for Zaks replacement as it hopes to get more drugs and vaccines to the market over the next few years.