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Moderna cuts full-year sales forecast for COVID-19 vaccine -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Moderna COVID-19 vaccinations are on display at Apotex, Toronto (Ontario), Canada, 13 April 2021. REUTERS/Carlos Osorio

(Reuters) – Moderna (NASDAQ:) Inc cut Thursday’s full-year forecast for COVID-19 vaccine sales to $15 billion-$18 billion, down from the $20 billion estimate previously. This was due to difficulties in producing the two-dose vaccine.

It stated that it expects to receive between 700 million million and 800 millions doses of this year’s product, which is down from the 800 million-to-1 billion expected.

Moderna noted that international shipping and exports can have longer lead times, which could cause delays in delivery.

Its production is lower than that of its closest rivals Pfizer Inc (NYSE:) expects COVID-19 vaccination sales to reach $36 billion by 2021, and $29 billion more in 2022.

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