May 8, 2021

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Moderna expects $ 18.4 billion in Covid vaccine contracts this year

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Moderna plans to bring in $ 18.4 billion this year thanks to the agreements signed for its Covid-19 vaccine, as the pandemic transforms the fortune of the loss-making start-up.

The Boston-based biotech coronavirus vaccine revenue forecast is well above the $ 11.2 billion that analysts predicted for 2021, as well as the 15 billion dollars which Pfizer said it was waiting for when it announced its earnings this month.

Moderna said that number could increase as it is in discussions with governments regarding more vaccine orders for 2021 and 2022, as well as Covax, the immunization program for developing countries.

Stéphane Bancel, CEO of Moderna, said 2021 would be a “year of inflection” for the company.

“Previously, we believed that mRNA would lead to approved drugs, and we were limited in our ambitions by the need to regularly raise capital and maintain several years of cash to manage funding risk,” he said. declared. “We now know that mRNA vaccines can be very effective and allowed to be used, and we are a commercial cash flow company.”

Forecasts come after Moderna became the leading manufacturer of vaccines to reveal a cliché adapted to the 501.V2 variant, discovered for the first time in South Africa. The company sent this vaccine to the National Institutes of Health in the United States for use in a trial.

It also gives a half-dose of the existing vaccine to participants in previous trials in hopes of boosting their immunity against the variants and developing a multivalent vaccine, which could target more than one strain.

In the fourth quarter, Moderna reported revenue of $ 571 million, from US government grants and sales of its Covid-19 vaccine after it went on sale in the United States in December. The company’s net loss of $ 272 million was higher than the $ 123 million for the same period the previous year.

Unlike its rival BioNTech, which partnered with Pfizer for its inoculation, Moderna does not share the product with a Big Pharma partner. Moderna is building a global sales network, opening units in Australia, Japan and South Korea this year.

Moderna’s shot is also more expensive than BioNTech / Pfizer’s. Prices range from around $ 25 per dose for the U.S. government, which funded the development of its vaccine, to between $ 32 and $ 37 per dose for other customers depending on the size of the orders. BioNTech / Pfizer costs around $ 19 a dose. Both vaccines require two doses.

Moderna also raised its minimum annual production to 700 million doses, from 600 million, while maintaining the high of its target of 1 billion. The company is expanding manufacturing for next year, to produce up to 1.4 billion doses – and possibly more if it ends up giving half doses as booster shots. It forecasts investment spending of $ 350 million to $ 400 million in 2021.

The group’s shares rose 3.6 percent to $ 150 in pre-trade in New York.



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