World News | COVID-19 Vaccine Sales Push Moderna to $12B Profit in 2021
Get latest articles and stories on World at LatestLY. Moderna's COVID-19 vaccine brought in nearly USD 7 billion in the final quarter of 2021, and the drugmaker says it has signed purchase agreements for another USD 19 billion in sales this year.
Washington, Feb 24 (AP) Moderna's COVID-19 vaccine brought in nearly USD 7 billion in the final quarter of 2021, and the drugmaker says it has signed purchase agreements for another USD 19 billion in sales this year.
The vaccine maker's COVID-19 shots, which are now available in more than 70 countries, totalled USD 17.7 billion in sales last year, their first full year on the market.
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Moderna's COVID-19 vaccine is the only product the drugmaker has on the market.
Late last month, U.S. regulators gave full approval to the vaccine, which is now being marketed under the name Spikevax.
But the company is still waiting for U.S. regulators to authorise the vaccine's use in 12- to 17-year olds, even though several other countries have authorised that expanded use. Regulators are studying the rare risk of a heart inflammation that has shown up in some people who have received the shots.
More than 75 million people have become fully vaccinated with Moderna's shot in the United States since its emergency authorisation over a year ago, according to the Centers for Disease Control and Prevention. Another 40 million have received booster doses.
In the recently completed fourth quarter, Moderna earned USD 4.87 billion on USD 7.21 billion in revenue, while earnings per share came to USD 11.29.
Analysts expect, on average, earnings of USD 9.96 per share on USD 6.8 billion in revenue, according to FactSet.
For the full year, Moderna earned USD 12.2 billion, compared to a net loss of USD 747 million in 2020.
For 2022, the Cambridge, Massachusetts company said in November it expects revenue between USD 17 billion and USD 22 billion.
Analysts forecast USD 21.5 billion in revenue.
The company said Thursday that its purchase agreements for the new year include an additional USD 3 billion in options for any potential updated vaccine boosters.
Shares of Moderna Inc. tumbled more than 6% in premarket trading. Broader U.S. trading indexes dropped more than 2% after Russia launched a military attack on Ukraine. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)